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Herald 


INTERNATIONAL 



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Christopher Gains Little 
From China on Rights; 
President ^Disappointed’ 

Bv Elaine . . 


PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POST 
Paris, Tuesday, March 15, 1994 


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By Elaine Sciolino 

^ ew York Tima Service 

; isg§§§i 

asas M sswsa 

• ■ Mr. Christopher’s talks, which both sid« 

- said were nmt» ..... 77 siaa 


. 1 3 r ,vva viiiiit ana naa h^>n 

.gained as the high point of the admimstra- 
-tion s six- month strategy of intensive, hieh- 
■ level engagement with the Chinese ^ 80 

f 01 *? 8 h L ome **• Christopher with 

fettle to show for h« Hrci nJ7_ 


Mr. Christopher said after a meeting Monday 
monung with Foreign Minister Qian Qichen. “I 
aoubt we would have achieved such clarity at 
oTthis - i S ghest ,cvels riLhoui the advantage 

Mr Christopher's presentation on Mondav 
his second meeting with Mr. Qian lacked 
me rancor and critical lone of remarks made 
V^Shu first two days here, when he also met 
with President Jiang Zemin and Prime Minister 
u “eng. 

“In an overall sense I find the differences 
between the United Stales and China are nar- 
rowmg somewhat.” Mr. Christopher said. Bul 
he added, more work dearly needs to be 
done. 


-AT 







StiJv^r f ? r rifSl ^ to Beijing as - P“ l . President Clinton, attending an interaa- 
coraSSuri ihSSh ** C S nCSe iostead ^ve « t onaI coherence in Detroi tsaid Monday, 

pf retaining the trade . 1 was disappointed at the results of the mew- 
prmkjes that expire in June. mg with the secretary of stale," The Associated 

Under an executive order by President Bill Press reported, 
umton, Oiina must make “significant, overall - ^ed: “Our policy is the same We’ll 

progress m human rights to win extension of Just to wait and see what happens between 


J*£k 




Under an executive order by President Bin 
Chn ton, China must make “significant, overall 
progress m human rights to win extension of 
the trade benefits, which allow Chinese goods 
to enter the United States with virtualfTno 
fc- tariffs. 

-v “I came to China to try to ensure that the 
Chinese side understands the importance of 
human rights to the United States in connec- 
tion with the most-favored-nation treatment,” 




7 . uapuciut Dciwcen 

now and June." June is when the United States 
must decide whether to renew China’s most- 
favored-nation trade status. 

f“IH make a judgment at the appropriate 
time, he said.] 

The meeting on Monday between Mr.‘ Chris- 

See TOUR, Page 4 



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Asians Fear Chinese Leaders 

Beijing Seeks Fret Most Cher 

Control of Sea Militant Labor 


— gr 


i i? By Michael Richardson 

International Herald Tribune 

SINGAPORE —The growing political infiu- 

_ race of the armed forces in China and dwin- 
- dling domestic oil supplies are pushing Bqjing 

to tiy to enforce its claims to control nearly all 
of the South China Sea, analysts in the region 

Such a move, if backed by the threat or use of 
— ■ overwhelming force, could secure Chinese ao- 

“** to extensive new offshore oil and gas re- 

sn ^ s » ria region — but at a very high 
— poiilical cosl 

1 . __ Virtually every country in Southeast Asia 
would oppose China's action. Japan and the 

S United States, fearing Chinese curbs on free- 
dom of navigation through the South China 
- Sea, would almost certainly throw their weight 
. — behind the Southeast Asian states. - 

Chinese military and civilian leaders have 
- repeatedly denied that China has any intention 

of threatening its neighbors. 

Nonetheless, regional analysts and officials 
— say they are concerned that China is systemati- 
cally developing the capability to project naval, 
air and amphibious power to take advantage of 
. ■’-* a receding U.S. and Russian mililaiy presence 
__ in East Asia and the western Pacific. 

Analysts said puna's armed forces already 
had a major voice in policy-making by the 
Communist Party. 

This role is likely to become even more ded- 
— j — ‘ ave after the demise of China's senior leader, 
Deng Xiaoping, when weak civilian leadership 
will have to be even more mindful of military 

See ASIA, Page 4 


Kiosk 

U.S. Warplane 
Down Off Kenya 

WASHINGTON (Renters) — A U.S. 
AC-130 warplane assigned to support 
American forces in Somalia crash-landed 
Monday in the ocean off of Kenya, and at 
least one crewman was known killed and 
^ 10 ware missing, the Defense Department 
^said. 

Military authorities said three of the 14 
crew members aboard the four-engine 
plane had survived the crash. The AC-130, 
one of four such U.S. attack planes based 
in the Kenyan coastal city of Mombasa, 
crashed about 200 yards offshore near the 
town of Malindi, the authorities said. They 
said the ■’«»« of the crash was not imme- 
diately known. 

It was the worst incident for Amen can 
forces in Somalia since 18 U.S. soldiers 
were killed in a shoot-out in the capital 
Mogadishu, on Oct. 3. Amen can troops 
are now being pulled out of Somalia on 
orders from President Bill Clinton and are 
to be gone by the end of this month. 


By Kevin Murphy 

International Herald Tribune 
HONG KONG — With independent, appar- 
ently spontaneous worker militancy spreading 
across China, Beijing sees a greater threat to its 
roleirom an organized labor rights movement 
than from a potential loss of export markets in 
the United States. 

A snrge in strikes, sabotage, protests and 
petitions hig hl i gh ts the social probl ems stem- 

NEWS ANALYSIS 

ming from a decade of economic reform. Such 
actions numbered 15,000 in 1993. according to 
the ‘official AD-Chma Federation of Trade 
Unions. _ • .. 

“Independent labor unions are far more dan- 
gerous than calls for democracy,” said Lee 
Qieuk-yanjpresident of Hong Kong’s Confed- 
eration of Trade Unions. “Workers' problems 
and rights are something deeply rooted in da ily 
life. 

“In 1994 the Chinese are more worried about 
labor rarest than anything else.” Mr. Lee said. 

Bering cracked down on dissiden ts who 
could crystallize worker discontent a head of 
Secretary of State Warren M. Christopher’s 
four-day visit, which ended Monday. This ac- 
tion, analysts said, betrayed a greater priority 
an protecting domestic political power than 
lobbying to keep most-favored-naiion trade 
status. 

China’s decision to dismantle communism 
and embrace a market economy has brought 
with it explosive growth, waves of forage in- 
vestment, greater opportunities for individual ! 
profit and a S23 Whon trade surplus with the - 
United States. 

It has also created a host of threats to the 
livelihoods of millions of its citizens who are ' 
badly prepared for sweeping economic ch a ng e ! 
Now, a plea for workers’ rights coming from 

See CHINA, Page 4 \ 



EMPLOYING PERSUASION President Bffl Clinto n speaking m Detroit, where he mged steps to spur job'^WF^Ifage 13 ^ 

The First Lady Feels the Spotlight’s Heat 


By Ruth Marcus 

Washington Pan Service 

WASHINGTON — As the first wave of 
White House officials appeared before a federal 
grand jury, Hillary Ro dham din ton tele- 
phoned a senior White House official to relate 
her concern. 

“She just wanted to know how her girls did 
today,” the official said. 

Among the first White House aides to testify 
before the grand jury were, two of Mrs. Clin- 
ton's senior aides: her chief of staff, Margaret 
Willia m s, and her press secretary, Lisa Caputo. 

Mrs. Clinton’s actions in Arkansas, where 
she played a dual role as the wife of the gover- 
nor and a partner at the Rose Law Firm, have 
become a major focus of attention in the inqui- 
ry into the Whitewater real-estate investment 
and the Madison Guaranty Savings & 1 nan 


the failed thrift owned by the Clintons’ 
Whitewater partner and for which Mrs. Clinton 
did legal work 

Also drawing attention to Mrs. Gmlon, ad- 
ministration officials say, has been her resis- 
tance to additional disclosures about 
Whitewater and her legal work She was among 
the last holdouts fi ghting the appointment of a 
special counsel. That stance, the officials con- 
cede, only added lo the public perception of a 
White House with something to hide. 

In a agn of a growing defensiveness in the 


White house, David R. Gergen, the presidential 
counselor, said over the weekend that it was 
“wholely unfair to make Hillary Clinton the 
scapegoat in the way the White House has 
handled the Whitewater mat ter.” 

“She has been part of a decision-making 
process in winch strong arguments have been 
presented on both sides on a couple of tough 
judgment calls,” he said. “She has not thought 
it right to be stampeded by critics whose mo- 

See INQUIRY, Page 3 


No. 34.536 


Latest Blow 
To Clinton: 
Another Aide 
Steps Down 

No. 3 at Justice Dept. 
Was Longtime Friend; 
S&L Links Mentioned 

By Paul F. Horvitz 

I m emotional Herald Tribune 

WASHINGTON — President Bill Clinton 
was dealt another heavy political blow Monday 
with the resignation of a trusted friend from the 
No. 3jobar the Justice Department following a 
dispute over billing irregularities at the offi- 
cial's former Arkansas law firm. 

The Clinton friend, Webster L Hubbell was 
named associate attorney general last year, a 
continuation of his close relationship to Mr. 
Clinton and his wife, Hillary Rodham Clinton. 
Mrs. Clinton and Mr. Hubbell worked together 
at the Rose Law Firm in Uule Rock. 

Mr. Clinton said he accepted the resignation 
“with profound sadness and regreL" 

Mr. Hubbell said he was leaving because 
handling his private affairs would distract from 
his government service, and he expressed dis- 
may that speculation about his affairs had 
gained so much currency in the press. He said 
he hoped to return eventually to public service. 

Attorney General Janet Reno praised Mr. 
Hubbell’s character and said she believed he 

A Whitewater primer: The crudal »«np« in a 
hot and high-stakes affair. Page 3. 

I had done nothing wrong in the “private dis- 
pute" between Mr. Hubbdl and his old law 
firm. 

Mr. Hubbell’s departure is the third loss of a 
close friend of the president and Mrs. Clinton 
from a senior administration job. 

The White House counsel Bernard W. Nuss- 
baum, resigned earlier this month after attend- 
ing meetings on Mr. Clinton’s Whitewater trou- 
bles that White House critics said were 
improper. 

Vincent W. Foster Jr„ another former Rose 
colleague of Mrs. Clinton’s, killed himself in 
July. The circumstances of his death are being 
reviewed by a special prosecutor. 

The Rose firm is under intense scrutiny from 
federal banking regulators and journalists. Any 
questions about Rose are likely to rub off on 
Mrs. Clinton, and the departure of another 
dose associate of the president can enjv deepen 
agrowing impression of a govemmem'in disar- 
ray. 

The White House and Ms. Reno had recently 
expressed their full confidence in Mr. Hubbdl 
Ms. Reno declared Monday: “I don’t believe he 
did a thing wrong and I believe ultimately that 
will be clear to people.” 

Aware of Mr. Hubbdl’s vulnerability. Re- 
publican critics of the president had called 
recently for his resignation. They have raised 
pointed questions about Mr. Hubbdl’s links to 
the same failed Arkansas savings and loan 
institution Lhat is at the heart of Mr. Clinton's 
current political troubles in tite so-called 
Whitewater matter. 

Mr. Hubbell had previously insisted that he 
had done nothing wrong, and a Clinton admin- 
istration official quoted anonymously by The 
Associated Press said he had not been asked to 

See AIDE, Page 4 


Euro Disney Gets Lifeline 
From Banks and Parent 


Book Review 
Chess 


I °- 28 

H 3.862.38 

The DoHair 


Page 8. 
Page 8. 


By Jacques Neher 

International Herald Tribune 
PARIS — Europe’s version of the Magic 
Kingdom won a reprieve Monday when bank- 
ers, Walt Disney Co. and Euro Disney SCA 
agreed to an estimated S2J billion financial 
restructuring package designed to give the trou- 
bled resort a chance at proving its economic 
vitality by next year. 

Analysts say the deal lets Euro Disney's 60- 
plus French and international banks largely off 
the book while requiring the American leisure 
giant, winch owns 49 p er cent of the park, to 
reach much deeper than expected into its own 
pocket. Current stockholders also will fed the 
pinch, having a choice of buying more shares in 
a rights issue or seeing their holdings, already 
battered by the market, diluted. 

Euro Disney stock jumped 5 percent on the 
announcement of the accord, but finished the 
day down nearly 8 percent to 33.85 French 
francs ($5.90) from Friday’s dose of 36.75 


francs. The shares, issued at 72 francs, stood at 
160 francs when the entertainment complex at 
Mame-la- V aliee, outside Paris, opened in April 

The analysts say the accord demonstrates the 
importance of Europe to the future of Disney 
and belies the company's Lhreat to cut the cash 
lifeline to the resort if a financial restructuring 
plan was not worked out by March 31. 

“Disney is certainly playing for broke," said 
Jeff Summer, bead of research at Klesch & Co- 
which trades in risky debt 
“It’s now clear that Disney is looking to 
Europe for much more than its theme park, but 
to its 330 million consumers who can buy their 
movies and licensed products as well” 

The agreement, worked out over the weekend 
in Paris, was initialed Monday morning, just 
before the start of Euro Disney’s annual share- 
holders meeting. While it has the backing of the 
steering committee and seven of the banks 

See DISNEY, Page 4 



GALLERY OF PRAYER — Mosfims at New Delhi's 


A#* XBw/TVAwnawj Pibs 

Ihe dose of Ramadan in India. 


Up 

0.42% 

114.03 


Tinfoil Tootsie , Good-Bye: India Casts Out Unparliamentary Slurs 


Mon, dose 
1.691 
1.495S 
106.175 
5.747 


Newsstand Prices 

Andorra .....9.00 FF Luxembourg tf L.Fr 
Antilles..... 11J0 FF MJ^VoORiS 
Cameroon. .1. 400 CFA 

|9V« E.P.5000 Arabia.. 9.00 R- 

France 9.00 FF 960 CFA 

• Gabon 960 CFA cSjJT..- .200 FTAS 

pneece 300 Dr. Tunisia — 

Ivory Coast .1.120 CFA Turkey --T. 4 

I Jordan. UD U.A.E.. T .8J0D*rh 

I Lebanon ...USS \ JO U.S. Mil. IBuf.) 


By Molly Moore 

Washington Pea Service 

NEW DELHI — “Once a ratbag, always a ratbag.” 

“Unmitigated filthy, rotten teller of untruths.” 

“Imperious, arrogant, glib toad.” 

Enough already! Is this any way for elected officials to 
address one another in the chambers of a nation’s lawmak- 
ing bodies? 

Absolutely not, the secretary general of India’s national 
Parliament has decreed. In fact, he said, aB this nasty name- 
calling and vicious verbiage is downright unparliamentary. 

To help elected lawmakers in the world’s most populous 
democracy avoid etiquette pitfalls in moments of political 
passion, the secretarial of the lower chamber, the Lok 
Sabha, has compiled 218 pages of comments and state- 
ments deemed “Unparliamentary Expressions.” It lists 
phrases, terminology and labels forbidden on the floors of 
legislative chambers. 


Who would dare call a colleague a “spineless cabbage.” a 
“tinfoil tootsie" or a “geriatric Bible basher”? 

“No member would utter such words intentionally," said 
Vinay Bhatnagar, assistant director of public relations for 
the Lok Sabha. “Unparliamentary expressions are uttered 
only in the heat of the moment.” 

Mr. Bhatnagar is philosophical about the antics of In- 
dia's elected officials: “Forty years in Lhe life of a nation is 
very little. Gradually, they will attain a certain level of 
maturity — maybe l’OO years.” 

Meanwhile, the revised and updated edition of “Unpar- 
liamentary Expressions” can guide lawmakers. 

References to animals prove by far the most popular of 
the prohibited slurs. The proper member of Parliament 
should never accuse a colleague of “growling and grunting 
like a whale with a bellyache” or of being a "retardate 
worm.” 

Whether an expression is allowed can depend on contexL 


“ “ ied , wilh refera >“ “ » member 

and should not be used even for oneself” but “ “Going to 

the dogs is not unparliamentary when used with refermce 
to matters other than members." 

Evety phrase in the book was uttered on the floor of i 

legislative body and ruled out-of-order by a d£tpri+ 
men tan ao. according to the authors, who have railed 


was once the British empire and 
ra ecW ^^ t P ditica] bombast knows 

nog 

Lawmakers should be particularly careful when assessing 


their colleagues’ life-styles and appearances, according to 
the guidelines. 

Ruled unacceptable was: “All the member is concerned 
about is growing opium poppies, and from the look of him, 
sometimes it seems he has tried a few samples.” 

As was: “Apply your mind, if you have any." 

Although the Lok Sabha and other legislative bodies in 
India have the authority to condemn or reprimand errant 
wordsmiths, Mr. Bhatnagar said punishment is rare. 

“The chair can ask the member to withdraw his words ” 
be said. If the member refuses to apologize, the words are 
simply expunged from the written record. 

But another censor may be on the way to cleanin* ud 
legislative language: live television coverage of Pariiameni’s 
proceedings. 

“The members would not like to be humiliated in from of 
thea udirace, Mr. Bhatnagar said. “There is every possibU- 
ity that they would then restrain themselves.” 3 ^ 







Page 2 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, MARCH 15, 1994 


Slow Chain of Command Shot Down NATO Air Strike 


WORLD BRIEFS 



By Michael R. Gordon 

New York Times Service 
WASHINGTON — U.S. gunships 
poised to make the Hist NATO air strike 
of the Bosnian war were thwarted when 
United Nations commanders took hours 
to approve the raid, allowing Serbian 
forces who had been shelling French 


peacekeepers to slip away in the dark- 
ness, according to Western officials. 


ness, according to Western officials. 

The episode raised questions about the 
efficiency of the chain of command creat- 
ed to protect UN peacekeepers and about 
the willingness of some senior UN offi- 
cers to order attacks. 

Two weeks ago, NATO jets fired the 
alliance's first shots in combat, when 
U.S. jets downed four Serbian planes 
violating a no-flight zone. NATO com- 
manders were able to authorize the ac- 
tion themselves under authority previ- 
ously delegated by the United Nations. 

But under the arrangements worked 
out by diplomats, UN approval is needed 
for air stakes against ground targets. UN 
officials say the procedure is needed be- 
cause the air strikes, even only in defense 


of peacekeepers, would cross an impor- 
tant political threshold and could open 
UN troops in Bosnia to retaliation. 

Bnt some U.S. officials say the proce- 
dure is so cumbersome that it inhibits 
NATO from using air strikes to protect 
UN troops when they come under fire. 

According to Western officials, the 
episode with the French troops began 
when French peacekeepers near Bihac, in 
northwestern Bosnia, came under fire 
sometime around 7 P.M. Saturday. 

It was not a new experience for the 
French- On Thursday, Serbs fired dose 
to a French observation post and blew up 
two French trucks. In response, UN com- 
manders asked NATO planes to buzz the 
area, and the Serbian fire fell sileuL On 
Friday, a French soldier was killed by 
sniper fire of undetermined origin. 

In the attack on Saturday night, the 
French troops concluded that they were 


being shot at by Serbian tanks and began 
to fire back. They requested air strikes. 

The French request went up the UN 
chain of command, which runs through a 
British lieutenant general. Sir Michael 


Rose, who from Sarajevo commands UN 
peacekeepers in Bosnia, to General lean 
Cot, who from Zagreb commands all the 
UN peacekeeping troops in the former 
Yugoslavia. 

Meanwhile, NATO was alerted by the 
United Nations to move its warplanes to 
the area so they would be in position to 
attack the Serbian forces. U.S. AC-130 
planes arrived on the scene. 

According to a chronology provided to 
the Pentagon, the French request was 
conveyed to General Cot’s command 
around 8:30 P.M. Western officials fa- 
miliar with the episode said it took time 
to track down General Cot and make him 
aware of the request. 

While the gunships waited for authori- 
zation to attack, the Serbs continued to 
fire at the French. The airmen deter- 
mined that the Serbs were using an anti- 
aircraft gun. At 10:25 P.M^ fire from the 
gun passed over the French portion. The 
French also became concerned that the 
Serbs were massing their tanks. 

At 10:35 P-M^ General Cot decided 
that air strikes were needed and put the 


request formally to Yasushi Akashi, the 
UN special envoy who has the authority 
to authorize the air strike; according to a 
spokesman for Mr. Akashi. 

The spokesman said Mr. Akashi had 
called a meeting in the operations room 
to consider the request. The UN officials 
discussed whether the target was dearly 
identified and whether a NATO strike 
might lead to retaliation or somehow 
endanger UN personnel in the area. 

Finally, at 11:39 PM, about three 
hours after the request was made, Mr. 
Akashi authorized the strikes. 

By then, however, observers with the 
French force were unable to pinpoint the 
Serbian forces, and bad weather ob- 
scured the target. After staying in the 
area for two hours, the Serbs managed to 
slip away into the woods. At 1:45 AML, 
the mission was canceled. 

Some Western military officials said 
the Serbian gun could nave been de- 


stroyed if NATO had received prompt 
authorization to fire. “Bv the tune the 


authorization to fire. “By the tune the 
pilots received authorization, the target 
had moved off.” a military official said. 
A spokesman for Mr. Akashi asserted 


that the hour that the special envoy took 
to approve the request was a reasonable 
period given the significance of the strike. 
But the spokesman declined to discuss 
whether UN commanders had acted ex- 
peditiously in making the request to the 
envoy. 

■ Paris Seeks Faster Action 

France called Monday for a more effi- 
cient UN response to cease-fire viola- 
tions, saying the commanders of peace- 
keeping troops on the ground were too 
slow to use force, Reuters reported from 
Paris. 

**We most go faster and be more deter- 
mined to use force every time it is neces- 
sary." Foreign Minister Alain Juppt told 
Europe 1 radio. 

“We do not have the impression that 
the leaders on the ground, those who 
represent the UN secretary-general, have 
the firm determination to use strength 
every rime it is necessary," be said. “But 
it is necessary." 

“Despite the turning point of a month 
ago in the Bosnian conflict, thing! are 
soil confused on the ground," Mr. Jupp6 
said. 


Kohl Still Sees 'Realistic Chances’ 


BONN (AF) — Chancellor Helmut Kohl said Monday that he sriH had 
a good chance of rejection in October despite his party’s landslide loss 
in a state deed an in Lower Saxony on Sunday. 

“My view has not changed,” Mr. Kohl said. His Christian Democrat- 
led riding coalition has “realistic chances" of defeating the opposition 
Social Democrats in the Oct. 16 federal vote, be said. Spe aking to 
reporters, Mr. Kohl blamed the country’s deep recession and bad hick for 
the defeat in the first of seven state elections this year. 

But Rudolf Scfaarpmg, the Social Democrat standard-bearer, edebrat- 


r" 


* 


. ...• 


end Mr. itbhl’s 12 years in office in October. With joblessness at a 
postwar high of more than 4 milli on and growing by the day, palls pat 
Mr. Scharping as much as 15 percentage points ahead of Mr. Kohl: 


' c . : - • 
par ry 


Toll Put at 13 in Bosporus Collision 

ISTANBUL (Reuters) — The fiery collision between an dl tanker and 
a freighter in the Bosporus Strait killed at least 13 seamen and injured 28, 
Turkish television said Monday. Sixteen crew members were missing. 


Emergency teams were still battling a fire on the Cypriot-registered 
Nassia, which was carrying a cargo of 98,500 metric tons of crude caL On 
Monday, tugs hauled the stricken tanker away from the rocky Asian 
shore toward the open waters of the Black Sea to allow firefighting ships 
to attack the blaze from both sides. The state minister for maritime 
affairs, Ibrahim Tez, said pollution would be limited because most of the 
o3 that spilled from three ruptured tanks bad burned off in. the water. 

The accident Sunday night at the Black Sea entrance to one of the 
world's busiest shipping lanes was the worst there since 1979, when an ofl 
tanker exploded after a collision, IriTHng 43 seamen. Officials said the 30- 
kflometer (19-mfie) strait would remain dosed to dripping until all 
hazards had been neutralized. 








Britain and Ireland 
Reject IRA Appeal 

Attacks Said to Firm Resolve 


Slovaks Choose Ex-Foreign Minister 


By William E. Schmidt 

New York Times Service 

LONDON — As (light opera- 
tions returned to normal Monday 
at London's Heathrow ana 
Gatwkk airports, paralyzed earlier 
as a result of Irish Republican 
Army actions, both the British and 
.Irish governments sharply rebuffed 
a new appeal by the IRA to reopen 
talks over a stalled peace initiative 
for Northern Ireland. 

The two governments said three 
mortar attacks on Heathrow over a 
five-day period, and threats that 
forced the closure of Gatwick as 
well, only underscored their deter- 
mination to bold fast to the foil 
terms of the joint Briti&h- Irish dec- 
laration promulgated in London in 
December. 

The initiative, described late last 
year as representing a “historic op- 
portunity to end 25 years of sec- 
tarian bloodshed in the province, 
offers the IRA a seat at peace talks 
only if it agrees beforehand to 
abandon violence. 

Anrid growing speculation that 


ed that London reopen the secret Mr. Mecutr, independent So 1 
talks it held last year with officials a parliamentary vote of no-confi 
of the Irish Republican Army and Kovac and following a stream o 
its political win g , Sinn Fein, in or- and members of his own party, 
der to resolve IRA doubts over 


Britain's long-term intentions in 
Northern Ireland. 

But while the shells fired into 
Heathrow caused no damage or in- 
juries, the incidents of highly ex- 
plosive mortar shells skittering 
across busy runways and bouncing 


off the roofs of airport terminals 
have inflamed public opinion in 


BANNED BUT BELUGERENT — These foltowers of tbe late Rabbi MefrKabaite pretfided Monday m the occupied West Bank that Amd growmg specolauon that 
an underground struggle against Palestinians would continue despite the banning of extremist groups founded by the militaiit rabbi. ^p^Ijadbin^inten^edto 

frighten and not kill, the IRA's 


U.S. Presses Both Sides on Mideast Talks 


TUNIS — Dennis Ross, a senior 
U.S. coordinator of the Middle 
East peace talks, met Yasser Arafat 
on Monday to discuss resuming ne- 
gotiations with Israel 
“We had some useful talks,” Mr. 
Ross said after the three-hour 
meeting, which was held anrid opti- 
mism voiced in Israel over an early 
resumption of negotiations. Mb. 
Ross said his talks with the PLO 
would continue. 

“Discussions were very useful 
and frank,” said a PLO Executive 
Committee member, Yasser Abed 
Rabbo. “We have discussed all the 


details related to the situation in 
the occupied tenitories and the ne- 
cessity of assuring the security 
needs for the Palestinian people in 
order to allow the political negotia- 
tions to resume." 

In Jerusalem, Environment Min- 
ister Yossi Sand said negotiations 
were about to resume. “I hope and 
believe according to all the signs 
that official negotiations will start 
at the weekend," be said. 

Hours before the Ross- Arafat 
meeting, an Israeli delegation met 
Mr. Arafat in Tunis to give Israel's 
response to PLO security demands 
following the Feb. 25 massacre of 


Palestinians by a Jewish settler in 
Hebron, PLO sources said. 


rjfl TfTf clandestine Army Council, the 

fWOg M gW a group's rilling body, issued a long 

Mvl' A. MA/M/M statement Sunday night, declaring 

a willingness to be “flexible and 
to Washington to complete their positive" toward finding a peaceful 


have inflamed public opinion in The inspections of seven suspect sites resumed March 3 after more than 
Britain, and confronted Prime a year, followin g twonrhc of stalling by North Korea amid suspicions that 
Minister John Major with growing it was hying to develop a nudear bomb. Pyongyang finally agreed to let 
pressure to take tirngher measures the agency inspectors m after talks with Washington ended in an accord, 
to address the ERA threat to the 

After more mortar shells landed Wfll ffllf .l Til RciCCtS Fill flings of RcpOTt 

VIENNA (Reuters) — Kurt Waldheim, the former president of Aus- 
|r tria, on Monday rejected allegations in a 1987 U.S. government report 

leaked over the weekend thatlmked him to Nazi World War II atrocities 
i°, g* Bd k™. Hi aid tt. rcporft dams — n by d* 

“The document consists of exactly the same collection of allegations 
that “ meantime have been disproved by three historical commis- 
h^md^ouT of a LondOT° but also sions 85 dist o rtions falsifications." Mr. Waldheim said in a statement 

British anH Tbe ff&fristice Department report said Mr. Waldheim 

served as an officer in German Army units stationed in the Balkans that 
« committed atrocities during World War IL The report formed the baas 
for tbe U.S. derision to bar the former UN secretary-general from the 
If" iff??* to^test the resolve s tat£S because of his role as a Nazi lieutenant from 1942 to 1945. 


self-rule accord. 


settlement in Northern 


The PUTs stand is that it win 
resume talks once the United States 
and Russia, co-sponsors of the 
Middle East peace process, guaran- 
tee implementation of a United 
Nations Security Council resolu- 
tion calling for measures to ensure 
the safety of the Palestinians in the 
occupied territories. 


UJS. officials said Mr. Ross was where the IRA is fighting to end 
to return to Washington for meet- British authority over the province. 


ings on Tuesday and Wednesday None of the 12 shells that fait the 


_ with Prime Minister Yitzhak Rabin airport in the three separate attacks 


of Israel 


exploded, leading some to believe 


Mr. Rabin, who was flying to they had been rigged not to go off. 


Washington on Monday night. The IRA statement, which made 


occupied territories. 

The United States has invited the 
PLO and Israel to send negotiators 


said, “I believe we will put die no mention of the mortar attacks, 
peace negotiations back on track, was tbe organization’s first official 


Those who want peace have to reply to the joint British-Irish ini- 
know how to overcome painful tiative. It stopped short of rejecting 


the plan. Instead, the ERA demand- 


Terre’BIanche Predicts War 


White Extremist Says Homeland Seizure Was Betrayed 


inside the airport Sunday morning, 
telephone bomb threats attributed 
to the IRA later in the day forced 
the government to dose Heathrow 
and nearby Gatwick Airport for 
more than two hours, delaying 
thousands of travelers and wreak- 
ing havoc with air traffic not only 
in and out of London bnt also 
throughout Europe and beyond. 

Both the British and Irish gov- 
ernments dismiss ed what some in 
London described on Monday as 
an IRA attempt to test the resolve 
of the British and Irish govern- 
ments, following the Heathrow at- 
tacks. 

“It is deeply offensive to people 
in Ireland and Britain that the IRA 
should claim to be interested in 
peace while they continue to kfll in 
cold blood and mount acts of ter- 
ror," a senior government official 
said in a statement released in Lon- 
don on Monday. 

At the same time, Albert Reyn- 
olds, the Irish prime minister, said 
the IRA’s action had strengthened 
his government's determination to 
hold fast to tbe terras of the joint 
declaration. 

"This multiple attack on Heath- 
row and the closure of Gatwick is a 
gross miscalculation by the IRA, 
and it is not going to advance the 
peace process," said Mr. Reynolds, 
speaking while on a visit to the 
United States. 


EU Power-Sharing Problem 
Seems to Be Insurmountable 


BRUSSELS — The European Union, straggling to main tain its 
drive for greater world influence, will tty Tuesday to resolve a 
dispute over the sharing of power when the bloc admits new 
members. 

Britain and Spain have insisted that their existing powers to block 
EU decisions must not be diluted when new countries join the 12- 
nation bloc, but others say the rules must be changed to reflect 


expanded membership. 

Austria, Finland, Norway and Sweden are expected to join tbe 


O'noi 1028 wc bc servo d Winston Churchill, 
Alexander qf Yugoslavia, Marlene Dietrich and many others. 
As of March 1 Dlh.il trill ho your turn. 



Neope nn»ji on March 1 5th. 



i^NCEB^UES 


■L *■/ March 15ih. the Prince da Gu jS» u hath to Us original Oflcadar. 
During ■/ month. of emanation. oath am of thr. Lniwu hotel hath nr / Q2B, 
ha. heart entirely eart oroJ hy axparit.VTc wiB continue to grande the heel urn* 
anJ comfort for oar gmefia, trhiht maintaining the apecifrt charm of the 30'*. 

For additional information and for ranmithm*. caff 33-1 47 25 55 II. 


Compiled by Our Stuff From Dtipalcha 

VENTERSDORP. South Africa 
— Tbe neo-Nazi leader Eugene 
Terre*Blanche predicted Monday 
that war, chaos and revolution 
would engulf South Africa in the 
run-up to all-race elections. 

“I think the war win intensify,” 
Mr. Terre’BIanche said. 

“We are heading for chaos and 
not an election,” be said, adding, 
“We are heading for a revolution, 
not peace and prosperity.” 

Mr. Terre*Blanche is leader of 
the Afrikaner Resistance Move- 
ment, known as the AWB. its ini- 
tials in Afrikaans. 

Armed members of the move- 
ment flooded into tbe capital of the 
black homeland of Bophuthats- 
wana last week in a failed bid to 
prop up tbe administration of Pres- 
ident Lucas Mangope. 

Three men from the group were 
shot to death by homeland police 
after white separatists had driven 
through the twin towns of Mma- 
batho and Mafikeng shooting 
blacks at random. 

Mr. Terre' Blanche, speaking in 
his hometown in the western 
Transvaal, said he had been be- 
trayed by the Bophuthalswana de- 
fense force and his framer ally 
General Constand VUjoen. 


vs nomeuma oetzure tvas joetrayea, while public reaction in Britain 

J seemed to lean toward a tougher 

“They went against their own kaner People's Front after tbe line on the IRA, some opposition 
word," Mr. TernfBlanche said, homeland debacle. The People's political leaders urged Mr. Major 
“The AWB leadership believed Front includes Mr. Terre'Blanche’s to consider taking up the IRA’s 
they were betrayed." movement and other far-right orga- latest offer. 


Austria, Finland, Norway and Sweden are expected to join tbe 
European Union next year, and such East European countries as 
Poland and Hungary are waiting in (he wings. 

EU foreign ministers will try to find a compro m ise on the complex 
issue of voting rights at a meeting in Brussels, although there is little 
sign that they wm be able to solve the problem. 


He said tbe homeland operation nizaticns. 
had been a victory because the “General VDjoen has betrayed us 

movement had suffered far fewer in many ways,” Mr. Terre’Blanche 


movement and other far-right orga- latest offer. 

nizations. John Hume, the leader of North- 


TRAVEL UPDATE 


casualties than homeland residents said. 


era Ireland Social Democratic La- 
bor Party, the moderate group that 
speaks on behalf of the majority of 
the province’s mostly Catholic na- 


3d Airline Flies Madrid-Rarcelona 


had. “We are in a situation of war,” the province’s mostly Catholic na- 

About 40 people are believed to Mr. Terrc’Blanche said. “They are tiraialist community, said he be- 
have been lulled in the week of hying to steal our sovereignty. Iam lieved the IRA was sending a clear 
protests againsi Mr. Mangope, the leader of the resistance. My message, because it did not intend 
among them passers-by. looters, people will stay independent and to detonate any of the bombs it 
demonstrators and the men from sovereign. After April 27 we will lobbed into Heathrow, from hid- 
ihe Afrikaner Resistance Move- use any means and ways to stay den positions outside the airport's 


menL 

Mr. Terre’ Blanche said his 
movement had had pacts with Mr. 
Mangope — who was overthrown 


independent 
The count 


The country's first all-race vot- 
ingis set for April 26 to 28. 

The final deadline for submis- 


by Pretoria over the weekend — son of parties' lists of candidates 
and with the leader of tbe CiskeL, for the election was midnight Fri- 


Brigadier Oupa Gqozo. to lend mil- day. Shortly before the cut-off 


uaiy assistance. 


Mr. Mangope's former defense Front a splinter group of the Peo- 
minister. Rowan Cronje, said over pie’s Front handed in its list of 
the weekend that the Bophuthats- candidates. 


wana government hod not invited Meanwhile, President Frederik 
the resistance movement but Mr. W. de Klerk said Monday that the 


Terre’Blanche said Mr. Mangope KwaZulu black homeland, which 
had personally asked for interven- will not participate in the election 


»ple will stay independent and to detonate any of the bombs it 
ivereign. After April 27 we will lobbed into Heathrow, from Ind- 
ie any means and ways to stay den positions outside the airport's 
dependent" perimeter. 

The country's first all-race vot- “It was their intention to demon- 
gis set for April 26 to 28. strate to the British government 

The final deadline for submis- what they are capable of," Mr. 
m of parties' lists of candidates Hume said, “so that if there is a 
r the election was midnight Fri- total cessation of violence they are 
ty. Shortly before the cut-off cot backing or standing down from 
ne. General Vpjoen’s Freedom a position of weakness, but from a 
ont. a splinter group of the Peo- position of strength." 
e's Front handed in its list of Kevin McNamara, a spokesman 
ndidates. on Northern Ireland for the British 

Meanwhile, President Frederik Labor Party, also urged the govern- 
. de Klerk said Monday that the ment to be flexible in dealing with 
waZulu black homeland, which the IRA. 


MADRID (AP) — Competition on Spain's most-traveled air route 
healed up Monday as Spanair became the third airline to operate regular 
flights between Madrid and Barcelona, six weeks after Ibena’s monopoly 
on the route ended. 

Spanair plans to operate seven round-trip weekday flights with a basic 
fare of 20,000 pesetas (SI 40) and a restricted discount fare of 17,200 
pesetas (SI20). 

On Jan. 31, Air Europa joined Ibaia with nine round-trip weekday 
flights with a basic fare of 20,000 pesetas. Iberia responded by dropping 
its restricted discount fare to 17,900 while Tnamtafniirp its basic fare of* 
29,900. 


International flights resumed Monday from Abadan in southwestern 
Iran, 13 years after the airport was nearly destroyed during tbe war with 
Iraq, Tehran radio reported. (AFP) 


time. General Vpjoen’s Freedom 


next month, was a “dark cloud” 


General VUjoen, saying Satur- hanging over the polL 


In three mout hs, the Kangaroo Cafe wiB open in Bdjpng, serving up the 
meal of Australia's most famous animal, Xinhua news agency reported. 
The joint venture between Sabina Pacific Ltd. of Australia and Bering's 
New Century Co. win combine cooking methods from the two countries 
to prepare the kangaroo dishes. (AFT) 

Kyoto, Japan, celebrates its L200th anniversary year with more 
than 1,200 concerts, exhibits, symposia and festivals. Highlights include a 
historical pageant on June 6. (Reuters) 

The US. National Transportation Safety Board recommends that 


day that he warned no more to do Mr. de Klerk said, however, that 


with the Afrikaner Resistance he was upbeat about free and fair 


Movement resigned from the Afri- elections. 


He said that the IRA's reply was tustoncal pageant on June 6. (Reuters) 

“clearly not a total rqection of the The U.S. National Transportation Safety Board recommends that 
declaration, and the government airlines replace the type of seal bells that proved difficult to open for. 
“““he .prep oral to offer further survivors or a Jan. 7 commuter plane crash m Ohio. The board sadtests 
danfiranra 1 to Sinn Fem if that showed the belt buckles complied with federal requirements but did not 


(Reuters. AFP) will help them accept its terms." always release. 


n's FOR YOU 
\ 



With MCI CALL USA and MCI WORLD REACH services, 
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Auwna 

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170 

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Fmlana 

9800-102-80 

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liOO MCI 1800 6241 

000 801? 

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Germary 

0130-000 

MewcoA) 

95 800 67*i-7000 

980 16-0001 

Greece 

00-800 011 

Netherlands 

06* 022 91-23 

080 90000 

Hungary 

n0*-80CI 0K.U 

Norway 

C60 1291? 

00 42 000117 

India** 

000-127 

Fy?nji 

001 190 

8001 0022 

Ireland 

1-800-561-001 

Poland 

0‘01-0r.-800-322 

1 800 751 66?A 

Israel 

177-160-2727 

Pm-Tugai 

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Saudi Arabia 
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Michael answers the call of the wild. 




Imprimipar Offprint, 73 rue de I'Evangik, 75Q1S Paris 




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BRATISLAVA, Slovakia (Reuters) — Former Foreign Minister Jozef 
loravdk was chosea bv a coalition <rf five parties on Monday to replace 


- 


Moravdk was chosen by a coalition of five parties on Monday to replace 
Vladimir Medar as prime minister, a presidential spokesman said. 

President Mic h.il Kovac has approved the nomination of Mr. Morav- 
rik, who was CzedKxslovakia’s last foreign minister under the federal 
system, which split into independent Czech and Slovak states in January 


V ; -_ 




: 


Mr. Meciar, independent Slovakia's first prime minister, was ousted in 
a parliamentary vote of no-confidence on Friday after bickering with Mr. 

Kovac and following n st ream rvf riigmiwls awf iwiri giMiH nna hy mTnfrt i-m 


' 


North Korea Inspections Broken Off 

VIENNA (AFP) — North Korea prevented a full inspection of its 
nuclear sites, as had beat agreed with the United States, a source at tbe 
International Atomic Energy Agency headquarters said Monday. 

Tbe source said that barring a “highly inrorobaNe" change of attitude 
by Pyongyang, the inspectors would leave North Korea on Tuesday for 
Beijing on their way back to Vienna. 

The inspections of seven suspect sites resumed March 3 after more than 
a year, following months of stalling by North Korea amid suspicions that 
it was trying to develop a nudear bomb. Pyongyang finally agreed to let 
the agency inspectors m after talka with Washington ended in an accord. 




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INTERNATIONAL HERALD TRIBUNE, TUESDAY, MARCH 15, 1994 


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UPDATE^ 

drid*Barcelo D3 _ 


* ^^ a ^-‘ 53 S= 

9 r ^ P eo Ple sum talking abowl 

5 ? 3 t *Kf ^ 

C«SS ! “.t! a somber speech to 
By Paul F. Horvitz 

tramunionol Herald Tribune 

gSSSsP^ 1 “ ex s 

Sfa£ tn0W Whal 1116 wSal is 

So fine, let’s talk about it. 

?* £ ,^? at ®H Clinton in trouble? 

A. PouiicaBy, he is in Kg trouble. A growing number of 
did something wrong or Segal in the 
«xalfed- Whitewater affair, but ihe/re notnro what. 
Repubficans are maintaining a drumbeat of criiidsra and 
denwndmg beanngs in Congress. Journalists are scratch- 
ing for every shredof new material. 

to short, it U open season on BUJ Omton's veracity, 
even thou gh_ critics can only speculate on what he might 
have done. If the storm does not abate. Democrats may be 
hun in the November congressional elections. 

Q. But did the preadent do anything wrong? 

A. No evidence- has yet emerged of unlawful acts by the 
president or his wife, Hillar y 
However, federal banking regulators looking into the 
collapse of Madison Guaranty Savings & Loanin Arkan- 
sas nave named the Clintons as possible beneficiaries of 
questionable Madison transactions during the 1980s. A 
former business partner of the Clintons’ ran the bank! 

While the regulators did not imply wrongdoing by the 
Clintons, their conclusion does raise questions. In recent 


What the Whitewater Fuss Is About 


days, credible reports suggest that the Clintons may at 
least have to pay back taxes related to a real estate venture 
that kept an account at Madisoa 
Ethically, the Clintons may be vulnerable because fed- 
eral officials overseeing banking regulation held private 
. discussions with aides to Mr. and Mn. Clinton to alert the 
White House to investigators’ procedures. 

Q- Why is all of this called Whitewater? 

A- Whitewater refers to Whitewater Development 
Coip n a small company created to develop river-front 
land on the White River in Northern Arkansas. The 
company was a Hop and the Clintons, who put money into 
Whitewater, say they lost nearly $69,000. 

Three facts are fundamental:" to 1978. BQ1 and Hillary 
Rodham Clinton joined James and Susan McDougaJ as 
investors in Whitewater, which was created by Mr. 
McDougal. In 1982, Mr. McDougal bought Madison 
Guaranty, a small savings and loan, and Whitewater 
Development kept an account at Madison, to 1993, Vin- 
cent W. Foster Jr„ a close Clinton friend who held a top 
White House job and who had worked on Whitewaters 
back taxes, killed himself. 

Whitewater might better be called the Madison- 
Whitewaier-Foster affair. 

Q- Why is there such an uproar? 

A. Ever since Watergate, the scandal that brought down 
President Richard Nixon two decades ago, any U.S. presi- 
dent’s effort to contain a political crisis by withholding 
documents or skirting questions has guaranteed an uproar 
to Congress and the press. 

The Clinton White House did tiy to soft-pedal 
Whitewater questions and initially tried to keep personal 
documents sequestered on the theory that Whitewater had 
nothing to do with the president’s' governmental duties. 
This alone was viewed by some commentators as scandal- 
ous, and Republicans are d emanding to know what the 
White House is hiding. 

Q. What are the crucial issues to Whitewater? 

A. The core questions scan to be these: 

• Did the president, while governor of Arkansas, gain 


any improper financial benefit from Madison Guaranty 
before it collapsed in 1989? Did Madison funds, for 
example, wind up in the Clinton campaign treasury? 

• Did the governor or his wife try to keep Madison 
afloat to help their friend, James McDougal, who contrib- 
uted to Mr. Clinton's campaigns? 

• Has the Clinton White House tried to influence the 
course of an ongoing federal investigation of the Madison 
collapse? 


Republicans are maintaining a 
drumbeat of criticism and 
demanding hearings in 
Congress. 

• Did Vincent Foster learn anything explosive about 
Madison or Whitewater before he killed himself last July? 

The questions raised publicly are so far speculative. But 
a special independent investigator, requested by Mr. Clin- 
ton, is looking into all of this. 

The investigator, Robert B. Ftske Jr„ has already sub- 
poenaed White House documents and called Clinton aides 
to testify before an investigative grand jury. He says the 
While House is cooperating. The grand jury wffl decide if 
there are grounds for c riminal charges. 

Q. What surfaced that raised all the questions? 

A. to the mid-1980s, federal banking regulators found 
Madison Guaranty’s finances shaky and its management 
poor. 

to 1986, they forced Mr. McDougal out as Madison 
president. Three years later they declared Madison insol- 
vent and took it over, charging Mr. McDougal with bank 
fraud. He was found not guilty. The U.S. Treasury now 
must pay around S50 million to satisfy the riaime 0 f 
federally insured Madison depositors who lost money 
when the hank collapsed. 

The independent U.S. agency overseeing nationwide 


savings and loan bail outs, called the Resolution Trust 
Coip„ continued to investigate. The agency wanted to 
know whether any of the Madison losses could be recov- 
ered from people who reattributed to the bank's demise or 
who benefitiea from its questionable dealings. 

It turns out that agency investigators found enough to 
warrant turning over their Madison inquiry to federal 
prosecutors for a criminal inquiry. They privately asked 
the Justice Department to investigate in late \992 and 
again last June. 

When news of the request emerged last October, critics 
and journalists went into high gear. A Justice Department 
team was dispatched to Arkansas to November. 

Q. Was there any White House cover-up? 

A. Talk of a cover-up exploded last mouth when it was 
learned that over the past five months Treasury Depart- 
ment officials temporarily running toe Resolution Trust 
Corp. bdd three separate meetings with Clin tan aides. 
Many in Congress view these meetings as an improper 
contact between an investigating agency and a potential 
target of an investigation. The White House counsel. 
Bernard W. Nussbaum, was forced to resign when it was 
learned that be attended the meetings. 

Various reports of document shredding to Arkansas 
have emerged, but none have been conclusive on whether 
the documents had anything to do with Whitewater or 
Madison. 

Q. What does the president say to Ins defense? 

A. Mr. Clinton says be has dime nothing wrong and will 
be completely vindicated. He says Republicans are whip- 
ping up “hysteria” to try to destroy him politically. His 
Whitewater investment was a bad decision made 16* years 
ago, he says, and be lost money. He says he had nothing 
whatever to do with Madison Guaranty. 

Use White House says the Clintons took no action to 
influence the federal investigation of Madison Guaranty. 

Mr. McDougal denies that any Madison money was 
founded into toe Clinton campaign and says the president 
has committed no crime. 

to 1992, toe Clintons paid a small sum to back taxes on 
Whitewater-related deductions, and the Clintons’ person- 


al lawyer now reportedly sees the possibility of a further 
paymmit of back taxes. 

• 

Q. What is the role of Mrs. Clinton in all of this? 

A. She is feeling heat from Republicans and toe press 
because she apparently handled the family’s Whitewater 
investment and for a short time provided legal counsel to 
Madison Guaranty. Madison used toe Rose Low Firm in 
Little Rock, where Mrs. Clinton worked, for some of its 
legal work. In 198S, Mrs. Clinton, representing Madison, 
asked a state regulator appointed by her husband to 

S trove a novel stock sale to bring fresh cash to Madison. 
t sale was approved but never took place, 
to 1989, federal regulators wanted to sue toe accounting 
firm used by Madison. Vincent Foster, also of Rose, 
solicited and won the contract for this legal went, but it is 
not clear whether he informed toe government, as he 
should have, that Rose lawyers had previously represented 
Madison. The suit was handled by another Rose attorney, 
Webster HubbelL Questions have been raised about 
whether Mr. Hubbefl overbilled toe government or other 
Rose clients. He resigned on Monday as associate attorney 
general. 

Q. What happened to toe Justice Department investiga- 
tion of Madison? 

A. Linder pressure from Republicans, Mr. Clinton 
asked that the investigation be turned over to an indepen- 
dent prosecutor. Attorney General Janet Reno named Mr. 
Ftske in January. 

Mr. Fuke, 63, is a New York Republican and former 
federal prosecutor with an unstained reputation. It is 
possible that he will eventually ask to interview the presi- 
dent and Mis. Clinton. 

Q. When will the Whitewater investigation be complet- 
ed? 

A Mr. Fiske has not said, but be is moving quickly. It 
would seem unlikely that a final report, would be issued 
before end of the year. Meanwhile. Republicans continue 
to press for hearings over toe objections of Mr. Fiske and 
Democratic leaders. 


± POLITICAL NOTES* 


Pagfcwood gives Up Battle Over Diaries 

.WASHINGTON — Senator Bob Packwood has ended his legal 
challenge to the subpoena of his personal diaries by the Senate Select 
Committee on Ethics. The panel is investigating all eged sexual and 
official misconduct by the Oregon Republican. 

A federal court ordered Mr. Packwood to provide the panel with 
the diaries, tapes and transcripts it subpoenaed last year. The 
senator's attempts to overturn the order fatted. 

The U.S. chief justice, W illiam H. Rehnquist, earlier this month 
rejected the senator’s request to postpone the transfer of the diaries 
to the committee pending a hearing on the merits of his appeal 
before the U.S. Circuit Court of Appeals. 

Regardless of Mr. Packwood’s decision to end the appeal the 
Supreme Conn’s refusal to grant a stay meant that the diaries woe 


_• ->■ 




„ ro- -c 


alive. Currently, a court-appointed independent arbiter is reviewing 
the diaries to delete personal material before the entries are given to 
the committee. 

Mr. Packwood had claimed the subpoena for the diaries violated 
his Fourth Amendment right to privacy and Ms Fifth Amendment 
right against sdf-incriminalion. 

But be said to a statement Monday: “Fortunately, to this country 
we solve our disputes to court, rather than through armed revolution. 
While I am disappointed to, and disagree with toe court’s decision, I 
will nonetheless abide by it. 

. "However, it frightens me to. thtok that the private thoughts, 
hopes, dreams and despairs of all oar dozens can now be seized by 
theeovemmmtp - — 

> The jethio coaunmar^s investigating allegation^ thaT Mr. Pack- 
wood made unwanted sexnal advances or engaged to other sexual 
misconduct with former female employees and associates. (AP) 


‘Pratrto Populist’ May Lead Democrats 

WASHINGTON — Senator Thomas A. Daschle, a “prairie popu- 
list” who chugs .around to a 1971 Pontiac when he goes home to 
South Dakota, is the early favorite to win election as Senate Demo- 
cratic leader when Senator George J. Mitchtil of Maine leaves at the 
end of the year, analysts say. 

An energetic inside player and Mitchell protege, the 46-year-old 
Senator Daschle is firmly to the Democratic mainstream and is 
popular with colleagues. He also benefits from toe “small-stale 
theory” of Senate leadership — . that senators prefer leaders from 
states with little economic diversity, sc? they can be free to work mi 
national issues. , 

Senators John B. Breaux of Louisiana and Harry M. Rad of 
Nevada also are contenders, but suffer from anti-abortion stances 
and more conservative philosophies. 

■ A dark horse to watch: Senator Jim Sasser of Tennessee, toe 
chairman of toe Senate Budget Committee, a savvy, genial sort with 
a sharp political edge. Democrats will choose their new leader after 
the November congressional elections. ■. ( LAi) 

Per ot Agto Doctors to Fund a Health Plan 

ATLANTA — Ross Perot has denounced Pt«i J"t BfflCUntoo’s 
health plan and urged the nation’s doctors to mail hun S 1 ,000 each to 

- SI million himsdlandsaidhe 

would make health care Ms major concern. He said ha new ^cam- 
pfflgn, which he calls Put Patients Fust, would rely on doctors to 
shape a new plan and sell it to toe public. „ . H 

“You will have to be the hfinutemen ' ofhealto ojj ^ i told 
doctors at a convention of the American College of Cardiology . 
■Mr. Perot, who described htep»teM^°od«r «h« 
major speech on health care, dismissed toe admnusuancm pl^, 
Mric* istotended to hold down costs ^Ujm 
insurance for everyone. He said it was too exanpheated and expen- 

S Hehdd up a complicated owuatiml of the proposed 
ninnw program and said, “It is desgned to fan- , 

Mr-pSato toe doctors’ $1,000 contributions would be sprat 

laigdy c^telwiriOT ti^^P* 00 ^ 6 ae ?F £ XL jufone namTiie 
edwaimlv bv several hundred heart specialists. At one pjmj he 
askedSwmany supported toe administration proposal, and onlya 

few hands went up. 


Quote/ Unquote 


payback for what was dooe lo fortrard evidence 

there is an obligation f *L°^R epu bto Pany is playing '« 
and question toe ruling party. (Reuters) 

proper, traditional role of opposition. < 



CIA Is f Walking the Cat Back’ 

That’s Spy Talk for Cleaning Up After the Ames Affair 


g aap * i — I 

Puri Ricftaflfc/Ajmc Fmw-Pttwr 

Mr. Clinton showing off a timely gift Monday in Detroit, where he was opening a G-7 conference. 


By Tim Weiner 

Hew York Times Service 

WASHINGTON —The Central 
Intelligence Agency has suspended 
some operations abroad, told many 
clandestine operatives to lie low 
and begun a microscopic review of 
some of the most difficult intelli- 
gence cases of the last decade as a 
consequence of the case against Al- 
drich Hazra Ames, toe CIA officer 
accused of spying for Moscow, gov- 
ernment officials said. 

The arrest of Mr. Ames, a former 
Soviet counterintelligence branch 
chief, has forced the agency to re- 
open its files on hundreds of cases 
covering drug operations, a duplici- 
tous defector and even the death of 
one of its own officers, they said. 

In scores of overseas stations and 
in its own corridors, toe CIA is 
“walking the cat back,” spy argot 
for the difficult business of under- 
standing a disaster and dealing 
with its aftermath. Officials said 
the agency must take numerous 
steps, with these among them: 

• Reviewing the loyalties of 
scores of paid agents recruited 
from Russia and Eastern Europe. 

• Renewing an inquiry into the 
killing of one of its officers. 

• Contemplating the possibility 
that Mr. Ames sold information on 
drug operations from Ms most re- 


gust of Fred Woodruff, a’CIA offi- 
cer shot to death in toe former 
Soviet republic of Georgia in what 
Georgian officials have said was a 
robbery attempt. Mr. Ames, gov- 
ernment officials said, traveled to 
Georgia on asagnment in July. 

His most recent duties at the 
Countemarcotics Center were oc- 
casionally conducted in liaison 
with Russian intelligence officers 
and involved tracking the flow of 
heroin and cocaine through Geor- 
gia, Turkey, Bulgaria and Roma- 
nia. He also traveled regularly to 
Colombia. 

Reviewing his countemarcotics 
activities, officials said, accounted 
for only a small fraction of toe 
internal investigations. 

Inside toe CIA, they said, hun- 
dreds of analysts and officers were 
weighing toe importance of every 
shred of information that Mr. 


Ames learned and could have sold 
to Moscow over toe last decade, 
scheduling interviews with every 
intelligence and drug enforcement 
officer he ever met and reviewing 
the dozens of trips he lock abroad 
since Ms first overseas posting in 
1969. 

“You have to reconstruct Ames’ 
career,” said David Holliday, a se- 
nior staff member of the Senate 
Select Committee on Intelligence 
from 1985 to 1992. “You have to 
look at jobs he held, everybody he 
talked to. everybody he had deal- 
ings with. What information did he 
have access to? What could he have 
gotten that he didn't have access 
toT’ 

“The problem is that every- 
body’s covering their hindquarters, 
and trying to do a true damage 
assessment rads up being diffi- 
cult,” Mr. Holliday said. “There 
are careers at stake.” 


TTT"b"\7’ upcittuuua UU1I1 uis ukai LC~ 

liMyUmr : First Lady Feels the Beat of the Spotlight 


Continued from Page 1 

tives are often open to question.” 
During Preadent BID Clinton's 
first year in office, his wife seemed 
to manage simultaneously to fill 
the traditional role of first lady and 
to expand that position far beyond 
the reach of almost any predeces- 
sor. Her public persona showed her 
blending both roles, fussing over 
White House menus even as she 
presided over plans to restructure 
toe nation’s health care system. 

The recent sharp focus by toe 
press in some ways reflects her in- 
creasing role as a public figure. 

“If anything, it is nonsexist in 
that the focus is not because she is a 
spouse but because toe is such an 
important individual figure.” said 
Senator Bob Graham, a Democrat 
of Florida, who urged the WMie 
House to lave Mrs. Clinton answer 
questions about her role in 
Whitewater and other matters. 

Close friends and associates said 
toe scrutiny has created a difficult 
and painful period for toe first 
lady, whom they describe as alter- 
nately angry and bewildered. 

James Carvflle, a political advis- 
er, said: “She feels tike she and the 
president have worked hard, that 
theyVe basically never been about 
making money, that they got into a 
thing that didn’t go veiy well and 
all of a sudden people are trying to 
blow this tomg up to compare it to 
Watergate or something.” 

One associate described her as 
being “a very vulnerable woman” 
right now. 

Questions about Whitewater, in 
which the Clintons claim to have 
lost $69,000 — a figure that even 
the White House now says may be 
too Mgh — multiplied in part be- 
cause of Mrs. Omton's role as a 
lawyer few Madisoa Guaranty. Mr. 
McDougal has said he put the Rose 


Law Finn on a $2,000-a-monto re- 
tainer after Mr. Clinton, stopped by 
Madison's offices during a jog and 
complained that the family was 
short of money. 

Madison was seeking approval 
for a new financing plan, and Mrs. 
Clinton represented the thrift in 
that effort 

In an interview last year, Mrs. 
Clinton described her legal work 
for Madison as “minimal." She 
said she did not share in Rose firm 
profits from state business and al- 
most never did work before state 
officials appointed by her husband. 

On Sunday, Mr. McDougal said 
toe Rose firm bad been hired pri- 
marily to do “the minutiae” of land 
business and was not the thrift's 
lead law firm. 

In the White House, staff mem- 


bers say Mrs. Clinton dislikes and 
distrusts the press more than her 
husband does and that when con- 
troversy erupts, her instinct is to 
fighu 

As toe Whitewater story began 
to reappear in the press last fall, she 
finnlv believed that neither she nor 
her husband had done anything 
wrong, that they had already pro- 
vided more financial information 
during toe campaign than previous 
presidential candidates, and that 
was disclosure enough. 

She similarly opposed the ap- 
pointment of a special counsel. 
Even as toe White House was ac- 
ceding to demands for an outside 
investigator, Mrs. Clinton “was 
more reluctant than toe others,” a 
senior official said “Eventually, 
she had to relent” 


• Revisiting the mysterious de- 
fection and return of Vhali Yur- 
chenko, a Soviet intelligence officer 
debriefed by Mr. Ames in 1985. 

Though “a thorough damage as- 
sessment” promised by the agen- 
cy’s director, R. James Woolsey Jr, 
has barely begun, it is already dear 
that the damage is extensive. As- 
sessing its depth may take years. 

The Russian intelligence service, 
which is sad to hare paid Mr. 
Ames hundreds of thousands of 
dollars a year for his information, is 
□nlikely to be much hdp. 

Mr. Arnes, who was arrested 
Feb. 20, is accused of working for 
Moscow since at least 1985 and of 
betraying at least 10 foreign agents 
working for the United States, offi- 
cials said. 

The detective work includes a re- 
examination of tbe kilting last An- 


Cancer Study Used False Data 

But Findings on Mastectomies Still Valid, Experts Assert 


Away From Politics 

• Astronauts toe 

foot ( 1 5-mder) aimovtf toeopenjpyj^ ^ ^ 
latched onto toe device, whicn muc fa fora 
tromagn ets and a sensor to gauge bow 

is bring applied. ^ i* im died a new «« 

•The Defense succtss- 

in portable and low-OMl rock ti? carrying two 
ful launching of a Ta0 "“, f ro m Vanden- 
satcllites. Tbe later 

berg Air Force Base *£?fSiogy satellites imo 
deployed two advan^^^^enis a new 
polar circular orbits. with a 

g e neratio n' of rocket that can 


small ground txcw and portable equipment from 
remote sites, eliminating toe need for a fixed base 
and launch pad, officials said. 

• Much of tbe Midwest should be spared a repeat 
of last year's devastating Goods, but heavy winter 
snow has increased spring flooding risks for toe 
eastern pans or the Dakotas and western Minneso- 
ta, as wrii as for Pennsylvania, New York, western 
New Jersey and western New England, the Nation- 
al Weather Service said. 

• Education Secretary Richard W. RBey has an- 
nounced a program of voluntary national stan- 
dards for arts education intended to reverse a 
steady decline in toe teaching of the arts. Volun- 
tary standards for math teachers were established 
by the National Council of Teachers of Mathemat- 
ics in 1989 and are bring used in 40 percent of toe 
nation’s schools, Mr. Riley said 

AP, Reiners. NYT, WP 


By Lawrence K. Altman 

New York Times Service 

WASHINGTON — A federal 
investigation has found that a Ca- 
nadian researcher falsified data in a 
study that helped change toe way 
breast cancer is treated. The study 
concluded that full mastectomies 
were not always necessary to pre- 
vent tbe spread of early forms of 
the disease. 

The implications of the investi- 
gative finding for the treatment of 
breast cancer are not immediately 
dear. Cancer experts, moving to 
reassure women, said there were 
other studies that supported toe 
original research. 

Tbe University of Pittsburgh, 
which was toe organizing center of 
the federally financed study, issued 
a statement Sunday saying that toe 
coodusons of toe studies remained 
the same when toe Canadian data 
were excluded. Women treated "as 
a result of this research can be 
assured of toe appropriateness of 
torir therapy " Pittsburgh officials 
said. 

In the federal investigation, first 
reported Sunday in The Chicago 
Tribune, officials found that toe 
Canadian researcher had enrolled 
some women in at least one pari of 
the study who did not fit toe crite- 
ria for inclusion. It said about 16 
percent of the patients in the study 
came from toe Montreal research- 
er. The investigation found that or- 
ganizers of toe study have known 


of tbe resulting faulty data for two 
years and have not clarified toe 
subject publidy. 

In addition to tbe finding of fal- 
sification in part of toe study, toe 
Food and Drug Administration 
disclosed that in May 1991 the Ca- 
nadian researcher, Dr.Roger Pois- 
son of St Luc’s Hospital in Mon- 
treal, acknowledged that be had 
falsified results of other studies. 

Those studies involved the drug 
tamoxifen, which is used as a sup- 
plement in treating breast cancer, 
toe document said. In a disriplin- 
iefmite- 


lioo therapy, is as effective in pre- 
venting recurrences and in survival 
as toe more disfiguring procedure 
of a full mastectomy. 

The inquiry by federal agencies 
followed an internal review by Dr. 
Bernard Fisher, tbe University of 
Pittsburgh scientist who headed a 
federally financed group that orga- 
nized toe study, involving more 
than 5 jOQO doctors and 484 medical 
centers. Dr. Poisson was one of 
those participating. 

The investigation found at least 
115 falsifications, and those false- 
hoods have beat known to tbe ar- 


ary agreement, toe FDA ind 
ly prohibited Dr. Poisson from tak- ganizers of the study for two years, 
ing part in studies involving In February 1993, Dr. Lyle W. 


mg part 

experimental drags. 

The study on breast surgery be- 
gan more than a decade ago and its 
findings were made public in 1989 
in toe New England Journal of 
Medicine. It found that in many 
women with early breast cancer a 
partial mastectomy, which is also 
called a lumpectomy, plus radia- 


Bivens, the acting chief of the Of- 
fice of Research Integrity, wrote to 
Dr. Samuel Broder, toe head of toe 
National Cancer Institute, and rec- 
ommended that Dr. Fisher publish 
a re-analysis of the data, excluding 
toe falsified Canadian information, 
“to restore public confidence in toe 
conclusions of toe studies.” 


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Rice Crisis Steams Japanese 

How to Make the Foreign Stuff Taste Real? 


By David E. Sanger 

New York Times Serricc 

OSAKA, Japan — The word rippled through 
this giant industrial city on Friday night, first 
through the back streets around die sprawling 
railroad station, then into the well-heeled suburbs. 
Be at Hankyu department store, everyone said, at 
10 A.M. There wffl be a shipment of pure Japanese 
rice, only 2,000 kilograms but the real thing — no 
blending of grains from Thailand or California. 

So, with the press declaring a national emergen- 
cy at band — the first serious rice shortage since 
the bleak days of the late 1940s — the line started 
forming at 6 in the morning in this city about 400 
kilometers (250 miles) southwest of Tokyo. Twen- 
ty-three minutes after the doors opened, the entire 
shipment was gone, rationed out in 5-kilogram 
bags (about 11 pounds) to the first 400 customers. 

“During the war it was like tins,” said Masako 
A old, a sprightly woman clutching the bag of rice 
she had just bought. For many, it recalled the days 
exactly 49 years ago last week when American B- 
29s were leveling Japan’s biggest cities and inhabit- 
ants picked through the devastation for food. 

“It is outrageous,’' Mis. Aoki said. “It is the 
government's fanlt.” 

This week, many in Japan forgot about trade 
negotiators idling President Bill Clinton where to 
put his numerical targets for imported car parts, or 
the threat of American sanctions, or the former 
construction minister who was led off to jail the 
other night on corruption charges. In this land erf 
dizzying consumer plenty, the lines for rice in every 
major city have wound along the sidewalks and 
down into the subways. 

Things have gotten so bad that the Imperial 
Palace announced the other day that starting this 
week, “with the consent of their majesties, the 
emp eror and empress,” royal meals wul be served 
with rice grown in the United States, Thailand, and 
rfrina. The symbolism resonated through the 
country. After all, the emperor ritually sows rice in 
his own paddy on the palace grounds each year, 
one of the most solemn religious ceremonies he 
performs as the country’s chief Shinto priesL 

No doubt the royal family is tuning in to the 
morning shows that explain bow to code foreign 
rice so it tastes home-grown. (Start off by soaking 
it longer.) For those still in deep distress, there is 
the rice hot line, run by the Tokyo metropolitan 
government, which offers a mix of recipes and 


counseling for those deprived of Japonicus, the 
species of sticky, short-grain rice that consumers 
have been told is inseparable from the national 
souL 

Newspapers are filled with Indian- and Tbai- 


style recipes, hoping they will appeal to younger 
■avefed abroad. More likely. 


readers who have trav 
th ffl igti , younger Japanese wi& try another tack, 
Mting something else. It is no accmeot that Osa- 
ka’s rice lines are filled with older Japanese, and its 
McDonald’s and American-style diners with youn- 
ger. The reality is in the numbers. In 1962, the 
salad days of rice, per capita consumption was 
about 120 kilograms a year, in 1992, the last year 
for which figures are available, the figure was 65 
kilograms. 

With the market shrinking, the government has 
for years mounted a campaign against foreign rice, 
intended to justify its decaaes-Tong total ban on 
rice imports. The breach finally came in Decem- 
ber, when the government was forced to agree to 
limited imports under a global trade agreement 

But by that time, Japan's ports were filling up 
with emergency shipments of rice from Thailand, 
brought in to ease the shortage that followed last 
year's disastrous harvest Since then, television 
news programs have shown almost nightly seg- 
ments detailing bow mold or dead once were found 
in some bales. Such images have fueled the nation- 
al belief that the only safe rice is Japanese rice. In 
recent polls, about half of Japanese consumers say 
they wul not buy foreign rice erf any kind. 

This week, they will have no choice. To conserve 
the nation’s dwindling supplies, the Japanese cabi- 
net has ordered that distributors mix domestic rice 
with at least 20 percent foreign rice, so consumers 
will not be able to pick and choose. 

That decision has only worsened the public 
outrage. Now, in one of the great political role 


reversals of recent times, Eijiro Hata, the minister 
y, and I 


of agriculture, forestry, 


fisheries, has stopped 
of foreign rice and begun 
a to supermarkets where they 


taking the news > 
watch him eat it 
“This does not taste familiar, but I don’t fed any 
resistance to it" he said last week, in something 
less than a ringing endorsement 
Moreover, high prices are a problem. The black 
market has expanded, with 10 kilograms selling for 
more than SI 00. 


U.S. Urges 
Russians 
To Go Easy 
In Mideast 


By Daniel Williams 

Wcsfangrcn Post Serriee 
VLADIVOSTOK. Russia 
Secretary of State Warren M.j 
Christopher cautioned Russia’s i 
foreign minister, Andrei V. Ko-j 
zyrev, on Monday against free - 1 
lance meddling in the Middle East i 
peace process, U.S. officials said. | 
Mr. Christopher met Mr. Ko- , 
zyrev daring a two-nnd-a-half hour \ 
stop in this Russian Far East port [ 
the last stop on a Pacific tour ■ 



through Australia, Japan and Chi- 
na. Origii 


i gin all y, Mr. Christopho- j 
had asked to meet Mr. Kozyrev in i 
order to coordinate tactics on i 


bringing peace to' Bosnia. 
But Mr. r 


Hector MaWA*cnoc Francr-Prosc 

Secretary of State Christopher and Foreign Minister Kozyrev exchanging greetings at the Vbtfivostok airport on Monday. 


Kozyrev 1 s recent Middle t 
East created concern that the Rus- ■ 
siflns might upset American efforts [ 
to restart peace talks between Israel ■ 
and the Palestine Liberation Orga- [ 
nization. Moscow is nominally a ! 
co-sponsor of the talks, but has 


TOUR: Christopher Makes Little Progress With Cham on Human Rights ^ While in^mis, Mr. Kozyrev [ 

■* 0 said that the PLO chief. Yasser i 


Continued from Page 1 


topher and Mr. Qian was much 
more detailed and less polemical 
than those of the previous two 
days. Even Mr. Qian acknowledged 
that the previous meetings had 
been filled with “epistemology and 


philosophy,'* a senior U.S. State 
Department 


, official said. 

Specifically, Mr. Christopher 
noted “developments" taken by the 
Chinese on a number of fronts dur- 
; his trip. 

the most sensitive issue; ac- 


Y .B. Wigglesworth, Biologist, Dies 


By Eric Pace 

New York Tima Serriee 

Sir Vincent Brian Wigglesworth, 
94, a British biologist who did pio- 
neering studies of the physiology of 
insects, died Feb. 12 in Cambndge, 
England. He lived in Cambridge 
and in Lavenham in Suffolk Coun- 
ty in southeastern England. 

Sir Vincent, who was knighted in 
1964, was reader in entomology at 
Cambridge University from 1945 
to 1952; Quick professor of biology 
there from 1952 to 1966, when be 
retired from that chair, and a long- 
time fellow of Cambridge's Gon- 
vffle and Caius College. 


He was particularly noted for his 
research, beginning years before 
World War n, into insect hor- 
mones and the role they play in 
reproduction, growth and physical 
transformations, such as from the 
larval stage to the pupal stage. 

The Times of London recently 
called him “the acknowledged 
world authority" on insect hor- 
mones. 

In addition, as another British 
newspaper. The Daily Telegraph, 
put it, his findings concerning in- 
sect hormones “pointed the way 
toward nmiTar phenomena in other 
species." 


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Sir Vincent studied at Cam- 
bridge and went on to become a 
lecturer in medical entomology at 
the London School of Hygiene and 
Tropical Medicine from 1926 to 
1945. In 1926, he began studying 
the main physiological systems of 
insects considered significant to the 
study of medicine. 

His first book. “Insert Physiolo- 
gy” (1934) has been called a classic. 
His next work, “The Principles of 
Insert Physiology," came out in 
1939 and has also been highly 
praised. 

Garni YanusUta, 73, a former 
Japanese minister for defense and a 
protege of the late Prime Minister 
Knkuei Tanaka, died of heart fail- 
ure Monday in Tokyo. 

Danny Barker, 85, a champion of 
the banjo and a virtuoso guitarist 
whose career spanned 60 years with 
jazz giants of aQ eras, died of can- 
cer Sunday in New Orleans. He last 
played on New Year’s Eve and 
reigned as Mardi Gras king on Jan. 
29. 

John Caspar Draer, 87, a retired 
U.S. diplomat and Johns Hopkins 
University professor of Latin 
American studies, died of conges- 
tive heart failure Thursday in Cam- 
bridge, Massachusetts. 

Melvin Gough, 87, a test pilot, 
engineer and inventor who helped 
promote aircraft safety and led the 
investigation into New York City’s 
worst aviation disaster, died of can- 
cer Sunday in Melbourne Beach, 
Florida. 

Major General Walter Moriand 
Hutton, 81, chief of staff of Jor- 
dan’s Arab Legion from 1953 to 
1956 under General Sir John 
Giiibb, died March 5 in Cornwall, 
England. 


mg hi 

counting for and releasing political 
prisoners, be said that the U.S. 
team had received “a great deal of 
information" on the 235 specific 
cases first presented to the Chinese 
last fall. And for the first time, the 
Chinese have pledged to provide 
detailed information about 106 Ti- 
betan political prisoners, he said. 

The assistant US. secretary of 
state for human rights and humani- 
tarian affairs, John Shattuck, said 


that the Clinton administration 
would have to carefully evaluate 
the information provided, but thaL 
it appeared to be “definitely more 
than we had before." 

The two sides also codified an 
oral agreement, reached in princi- 
ple when Treasury Secretary Lloyd 
Bentsen visited Beijing in January, 
to reopen Chinese prisons to Amer- 
ican customs officers to ensure that 
their factories were not malting 
products for export to the United 
States. 

The Chinese also told Mr. Chris- 
topher that they would investigate 
reports of jamming of the Voice of 
America and within a few weeks 
would begin technical talks with 
representatives of the International 
Committee of the Red Cross on 
how to open Chinese prisons to 
outside inspection. 

Although the documents on the 
political prisoners may yield im- 
portant information about them, 
the rest of the concessions were 


extremely vague. More significant 
was what the Chinese did not give 
Mr. Christopher. 

They did not reach a concrete 
agreement that would end the jam- 
ming of Voice of America broad- 


casts into China. They did not re- 
lease ailing prisoners for medical 
treatment as requested repeatedly 
by the Clinton administration. 
They did not formally slate their 
intention to enter into an agree- 
ment with the Red Cross to allow 
inspections of Chinese prisons. 

Throughout the three days of 
talks, Chinese officials rejected Mr. 
Christopher’s demand that (hey 
improve their human rights perfor- 
mance as interference in their inter- 
nal affairs. They also said that 
stripping C hina of its trade privi- 
leges would backfire. 


■ Ghina Names die UA 
Foreign Minister Qian blamed 
Washington on Monday for height- 


ened tension before Mr. Christo- 
pher’s visit 

He hinted that VS. contact with 
a the prominent dissident Wei Jing- 
sheng had led to a police crack- 
down, news agencies reported from 
Brijing- 

Mr. Qian denied that Beijing had 
blundered by harassing prominent 
dissidents over the past two weeks, 
saying that American diplomats 
had erred by consulting with gov- 
ernment opponents about Chinese- 
U.S. relations. 

“I cannot but point out that it 
was the U.S. side that made the 
mis lake," Ire said at a news confer- 
ence. 

Mr. Qian sounded a note of opti- 
mism on the central issue of Mr. 
Christophers visit. 

“1 believe trade between China 
and the United Stales will contin- 
ue," he said- 

Bul be added that the final deci- 
sion on that question was entirely 
up to Washington. 


Arafat, was ready to return to talks, j 
but in fact the issue was still up in , 
the air. ' 

“Christopher suggested in a di- 1 
rect way that at this delicate point , 
in diplomacy, there needs to be a 1 


CHINA: Beijing Fears the Appearance of a Militant Labor Movement 


Continued from Page 1 

many of China’s most formidable dissidents is 
being beard across a country where the “iron 
rice bowl," cradle-co-grave welfare benefits and 
a job for life, is being smashed and as many as 
1 50 million impoverished, often desperate peas- 
ants are migrating in search of work. 

The ranks of the economically disaffected are 
stirred by calls to change a system in which 
China's ruling Communist Party concedes that 
corruption is out of control, that 60.000 work- 
ers were killed last year on the job, and that up 

to one-third of the work force in tbegianl state- 
owned industries face joblessness. 

Two documents released last week by leading 
dissidents illustrate how labor rights militancy 
has emerged as a political phenomenon in the 
country. 

They were a petition urging China’s legisla- 
ture, the Natioaal People's Congress, to protect 
the rights of rural ana urban workers, and a 


founding charter of private group pledged to 
those same goals. 

The documents call for the restoration of the 
right to strike and the legalization of indepen- 
dent workers’ and peasants’ labor unions. 

To a government that used labor unions to 
help topple the rival Nationalist Party before it 
fled to Taiwan in 1949 and then consolidate a 
hold on power over the past four decades, labor 
rights activism can be seen only a serious threat. 

In the round-up of dissidents that preceded 
Mr. Christopher's visit to Beijing and soured 
negotiations, many of those detained had dose 
links to campaigns seeking to protect Chinese 
workers from the excesses of capitalism. 

“At first we didn't understand why China 
would ddiberatdy provoke the U.S^" Trim 
Leung, a Hong Kong academic specializing on 
Chinese labor issues, said of the arrests. 

“It appears now that horizontal linkages be- 
tween labor activists around the country are 


Miss 


what Beijing is really worried about, 

Leung said 

■ Army’s Marching Orders 
President Jiang Zemin urged the People’s 
Liberation Army to support economic reform 
by working for the nation instead of itself, the 


common purpose, " a State Depart- J 
meat official said. ■ 

At a joint press conference, Mr. | 
Christopher emphasized the need ’ 
for Moscow and Washington to *- 
keep in better touch. \ 

Moscow surprised the Clinton , 
administration last month by de- 1 
riding to put troops into Sarajevo ] 
at the moment the North Atlantic < 
Treaty Organization was poised to J 
cany out a threat to bomb Serbian 1 
artillery kept near the besieged > 
Bosnian capital. ) 

Although Russia helped per- ■ 
suade the Serbs to withdraw or si- j 
trace their artillery, the interval- \ 
non raised alarm in Washington • 
over whether Russia was making its | 
troops a shield for the Serbs. i 

Taking sides in the Middle East • 
situation — Moscow is a tradition- j 
al backer of the PLO — might • 
revive a kind of Cold War rivalry in j 
the Middle East and encourage the j 
Palestinians to hope that Russia • 
will negotiate for them, U.S. offi- * 
rials fear. I 

Washington is trying to grapple • 
with a more assertive Russian for- j 
cign policy. Russia has asserted a , 
right to intervene in neighboring • 
countries of the old Soviet Union, a ! 


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itt n,i J 


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offirial news agency Xinhua said Monday. privilege Washington opposes. A 
The army has been a key player in China s ^ 


economic reform drive through its corporate 
arm, but its increasing economic muscle has 
also spawned widespread corruption, Bloom- 
berg Business News reported. ■ 

Mr. Jiang told army delegates to the National 
People’s Congress that the PLA must stay true 
to its “sacred mission” of defending economic 
reforms and safeguarding political stability, 
Xinhua said. 

He stressed the importance of setting lofty 
ideals, observing discipline, seeking unity and 
subordinating personal interests to the overall 
interests of the nation. 


ASIA: Regional Rivals Fear Thai Beijing Seeks Control of South China Sea 


Continued from Page 1 


interests. Reflecting the influence 
of the armed forces in China, the 
official budget for 1994. unveiled in 
Beijing on Friday, gave the military 
a 22 percent increase over last year, 
increasing planned expenditure 
from just over 52 billion yuan ($5.9 
billion) from nearly 43 billion yuan 
in 1993. 

Despite the rise, the military 
budget is still lower in dollar terms 
this year because of China's unifi- 
cation of currency exchange rates 


in January, which effectively deval- 
ued the Chinese yuan by 33 percent 
against major currencies. 

Many Western analysts, howev- 
er, say they believe the true figure 


for China's military spending is 
iblished 


much higher than the pub! 
amount as the 3 million-mem bet 
armed forces can draw on other 
budget items and their own profit- 
making Hiterp rises to help pay for 
the modernization program. 

Chinese forces seized the Paracel 
Islands in the northern part of the 
South China Sea from Vietnam in 
1974. They established a foothold 
in the disputed Spratly Islands, in 
the southern sector of the sea. when 


AIDE: The Latest Blow to Clinton 

could result from simple baling cr- toW** ultimate sua.egic oh- 


Continued from Page I 

leave. A second official said: “It's a 
private individual's problems that 
* ‘ , government ser- 
itb his prior law 


vice, problems wii 
firm." 

Two separate questions of over- 
billing clients have emerged in the 
Hubbril matter. 

In perhaps the more damaging 
one, the Resolution Trust Corp„ a 
federal agency overseeing the bai- 
lout of failed savings and loan&Js 

biGstiicases where be represented 
federal agencies some years ago. 

The Associated Press reported 
Monday that Rose apparently was 
paid twice for the same legal work 
done Tor the government during the 
late 1980s. The government may 
have overpaid Rose bv as much as 
530,000. Mr. HubbeD was the lead 
attorney in the case. 

According to the AP report, the 
government cannot find key docu- 
ments, and one official was quoted 
as saying thm the entire matter 


rors. 

The case involved a lawsuit by 
the government aga i ns t the accoun- 
tants for the failed Madison Guar- 
anty Savings & Loan. According to 
news accounts, Mr. Hubbdl han- 
dled the case although his father- 
in-law was an officer of a Madison 
subsidiary and had defaulted on 
more than $500,000 in loans from 
Madison. 

Madison itself is under investiga- 
tion by a special prosecutor, who is 
also looking into whether Mr. or 
Mrs. Clinton benefited financially 
from improper Madison transac- 
tions. 

The savings and loan was run by 
the Clintons’ business partner in 
the Whitewater land investment 
they made in 1978. 

According to recent news ac- 
counts in The Washington Post and 
The Wail Street Journal, the Rose 
firm is also involved m a serious 
dispute with Mr. Hubbdl over as 
much as 51 million in expenses and 
unbilled hours in another case. 


jective is to “convert the entire 
South China Sea into a Chinese 
lake,” said B. A. Hamzah, director- 
general of the Malaysian Institute 
of Maritime Affairs in Kuala Lum- 
pur. 

He said that with China's run- 
ning short of oil to fuel its rapid 
growth and industrialization, eco- 


nomic motives appeared to be high 
on Beijing's agenda in the South 
China Sea. 

Although China is the world's 
fifth-largest oil producer, surging 
demand and stagnant domestic 
output is set to make the country a 
net importer of crude oil this year 
for the first time in three decades, 
according to a recent study. 

Official Chinese maps show Beij- 
ing's claims over the South China 
Sira, and the seabed oil and gas 
reserves in the area, reaching to 
within 48 kilometers (30 miles) of 
the coasts of Vietnam, Malaysia, 
the Philippines and Brunei. 

All of Vietnam’s offshore petro- 
leum fields are covered by China's 
claim. Officials in Hanoi plan to 
increase Vietnamese offshore pro- 
duction to 148 million barrels of oil 
by the end of the decade, from 
nearly 53 million barrels this year. 

The Spratly Islands, which hold 
the key to control of surrounding 
offshore resources, are a major 
point of potential conflict in the 
South China Sea. 

China, Vietnam and Taiwan 


claim all of the islands while Ma- 
laysia, the Philippines and Brunei 
claim those that tie closest to their 
territory. 

AU but Brunei have stationed 
forces on the islands and reefs they 
occupy, and analysts say that 
armed clashes arc a real risk. 

Yeo Ning Hong, Singapore’s de- 
fense minister, said recently that it 
was a good sign that the Spratly 
claimants had expressed their in- 
tention to resolve differences 
through negotiation and to consid- 
er joint development of the area. 

Chong-Pin tin, associate director 
of China studies at the American 
Enterprise Institute in Washington, 
said that the rising political profile 
of the Chinese armed forces would 
ensure continued double-digit 
growth for the defense budget and 
continued upgrading of the coun- 
try's military capability. 

“Made increasingly confident by 
its military buildup,” be said, “Beij- 
ing may adopt a more assertive 
foreign polity even if it avoids the 
use of force in tbe region.” 


offirial attributed Russian ac- 
tivism to Moscow’s effort to “assert 
its significance as a power.” 

The official said the United 
States had “been very fortunate to 
have had a couple of years in which 
our views seemed fully to be con- 
gruent.” 

“I think it's not at all surprising 
we have hit a situation wbere there 
have been some strains in tbe rela- 
tionship.” 

At the press conference. Mr. Ko- 
zyrev suggested that Russia had 
been feeling like a junior partner to 
the United States. But be defined 
current relations as a “mature part- 
nership" of equals. 

He struck a tough note on the 
Baltic states of Estonia and Latvia, 
wbere Russia still main tains troop 
garrisons. Asked when they would 
be withdrawn, Mr. Kozyrev said it 
would be only when the Baltic 
states negotiated a “civilized with- 
draw!.” 

Russia has insisted on protection 
for the rights of ethnic Russians in 
the two countries and has delayed a 
pullout. Washington has urged the 
Baltic states to accommodate Rus- 
sia’s concerns. 

A senior official said Mr. Ko- 
zyrev assured Mr. Christopher on 
Monday that the troops would be 
withdrawn by the end of the year. • 


DISNEY: Bonks and Parent Set Refinancing Accord 



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Continued from Page 1 

individually, the deal needs to win 
approval from all of the lenders, 
which currently hold lOUs from 
Euro Disney valued at 16 billion 
francs. 

Michael D. Eisner, chairman of 
the American parent, called the re- 
structuring plan “fair and econom- 
ically sensible” and said the accord 
would ensure a sound financial ba- 
sis for tbe park. “We are extremely 
confident to the park and its fu- 
ture,” be said. 

The accord calls for a rights issue 
tp raise 6 billion francs in new capi- 
tal, 49 percent of which would be 
subscribed to by Disney. The re- 
mainder would be underwritten by 
tbe banks, so that if current share- 
holders refused to buy into the of- 
fering. the banks would have to 
acquire the shares themselves. 

In addition, Disney agreed to 
forgo license and management fees 
for five years, and accept lower fees 


it advanced to fund operations over 
the past several months. 


• Will let Euro Disney delay a 1 
billion franc payment for develop- 
ment work that the American com- 
pany performed to plan the resort’s 
second phase, which was lo include 
a second amusement park with a 
movie studio theme. This phase has 
been pushed back, likely until via- 
bility is proved on tbe first phase. 
Payment will not be due until that 
development is built. 


der most models for an eventual 
accord, the big French banks 
would have had to write off large 
amounts in a debt-for-equity swap, 
which would have proven embar- 
rassing, in particular, for BNP, 
which was just privatized. 

Current shareholders win bear a 
good measure of pain, but not as 
much as earlier thought. Analysts 
said their holdings would be dilut- 
ed by about 50 percent bv the new 
share offering. 


• Agreed to pay 1.4 billion 
francs to Euro Disney to acquire 
unnamed park and hotel assets that 
it would lease back “on terms fa- 
vorable" lo Euro Disney. 

The banks, in addition to under- 


writing the rights issue, agreed to 
lilfion fr; 


than originally agreed over the fol- 
> five ye 


lowing live years. 

This concession, analysts said, is 
likely to cost Disney well over 2 
Ullion francs. 

Further. Disney: 

• Offered the park a 1.1 billion 
franc credit line over tbe next 10 
years, on lop of I billion francs that 


give up 1.6 billion francs iifinterest 
payments and to defer principal 
payments for three years. 

“This plan rests on shared efforts 
and it is proportioned to the stakes 
of the different parties," said Bau- 
douin Prot. associate tnana 


Bondholders will not be affected 
by the restructuring plan. Bank of- 
ficials said they feared that any 
attempt to change the terms for 
bondholders would delay, if not 
sabotage, the negotiations. 

In announcing the deal to share- 
holders, Euro Disneyland manage- 
ment offered a noie of optimism, 
although the company's annual re- 
port, distributed at the meeting, 
was glum. 

“It is a great relief," said Phi- 


aouin noLassoaate nianagiQgdi- lippe Bourguignon. chairman of 
.f a,K ! ue Nationale de Par- Euro Disney, who only last No- 
is, or BNP, and spokesman for the vember had to announce losses of 


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Reuters 

MOSCOW — President Bo- 
ris N. Yeltsin, still weak after 
an illness but confident of 
calm in Russia, left Moscow 
on Monday for a two-week va- 
cation at tbe Black Sea resort 
of Sochi 

“It is a scheduled holiday, 
expected to last a muxitnnm of 
two weeks, but it could be cut 
shorter according to circum- 
stances," a spokesman for Mr. 
Yeltsin said. 

The Interfax press agency 
quoted Mr. Yeltsin as saying 
before he left: “I can say that 
no explosions are expected in 
the country, so I am flying off 
without any concern.” 

The 63-year-old president 
said he still fell “some weak- 
ness" after two recent bouts of 
flu, but stressed that he would 
“rest and work” in Sochi the 
agency reported. It added that 
a number of working meetings 
had been scheduled, including 
a discussion erf the economic 
situation with Prime Minuter 
Viktor S. Chernomyrdin. 

As with all of Mr. Yehsin’s 
previous vacations, it was not 
made public in advance. He 
remains in charge while away 
from Moscow and hands over 
no special powers to any depu- 
ty- 


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bank steering committee. 

But analysts said ihe accord 
would be “very swallowable" by 

die banks because it would require 

little if any loss provisioning/Un- 


5.3 billion francs during the theme 
park’s first full fiscal year. “We are 
ddighted. The deep restructuring 
will put Euro Disuey on a solid 
baas.” 




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INTERNATIONAL HERALD TRIBUNE, TUESDAY, MARCH 15, 1994 


Page 5 

ADVERTISEMENT 


VJ E W S FROM THE BOARDROOM 


Technological Vision Keeps 


Toshiba at the Leading Edge 


Toshiba Corporation pioneered the development of the portable computer in 
■ 6 1111 980s and continues to be one of the industry’s leading innovators. 



The European personal computer market is served by Toshiba Europa $ Regensburg Plant in 
Germany. The facility started production in 1990 and now produces PCs and their printed 
circuit boards. 


oshiba’s latest offering, the 
T3400 subnotebook series, is 
winning praise from analysts 
and computer users alike, and 
will be a centrepiece of Toshiba’s ex- 
hibit at CeBIT ’94, which opens in 
Hannover on March 16. 



One of the most innovative features 
is the replacement of a mouse with an 
isometric pointing stick, which is nes- 
tled between the G, H and B keys, with 
programmable click-and-drag buttons 
mounted in the centre of the palm rest 
below the keyboard. The user can con- 
trol cursor movements very precisely. 


iD , terVieW With Db *- — precisely, 

. flis Nomule a free-lance writer based accurately dragging and pointing with- 
kyo who often writes about tech- out having to change hand position. 


nology, a team of Toshiba engineers 
explains how a continuously evolving 
vision of future possibilities keeps the 
company on the cutting edge. 


There won't be just one type of 
portable computer. Of course, for 
Toshiba this is already true. 

In Europe and North America, we fo- 
cus exclusively on offering portable 


Dennis Normile: Toshiba’s new 
T3400 series promises to be one of 
the highlights of this year’s CeBIT 


Toshiba’s portable computers 
first met the test of customer ap- 
proval in the European market, 
didn’t they? 

That’s right Our Til 00, released in 
1985, was the first truly portable com- 
puter, and it was released first in Eu- 


looking at Toshiba’s technological 
strengths, wondering where we could 
best match our skills to the needs of the 
market. We decided that with our 



new and brilliant. We first thought and customer service are unmatched for different people. For those who 
about what a future portable computer by any of our competitors. travel a lot, mobility will be very im- 

should be like, and then started devel- portanL For those who usually work at 

°P™ enL How has Toshiba managed to a desk in one location, a big screen 

We researched the market, travelling maintain its leading-edge position might be more desirable, 
the world and asking computer users regarding technology, even as oth- 
whai they wanted in a computer, what er computers makers have come 
they found useful, whai they liked and and gone? 

didn’t like about the computers they Our mission is to think about the fii- 

were using. We heard that desktop ture. When we introduced the first lap- 

computers were too big; people want- top, for example, we were already computers, so we have a complete 
ed something more compact and pow- thinking about what the computing range of products, allowing customers 

needs of users would be in five years’ to choose the portable computer that 
From this market research, we started time. best suits their needs. 

We recognised that for computers to 

become truly personal, people, espe- Toshiba is producing portable 
dally those who travel, would need ei- computers in Europe, North Ameri- 
ther several computers in different ca and Japan, and there are sales 
know-how in developing and manu- places or one computer they could eas- organisations in just about every 

fac taring miniaturised prerision com- ily carry around with them. country of the world. Can you ex- 
ponents, we could develop a personal We derided the ideal computer of the plain Toshiba’s portable-computer 

computer that could be used on a desk 1990s would be just the sort of sub- strategy? 

but would still be compact and light notebook we have just released. And 

enough for the user to carry around we started thinking about this ideal for 
easily. This notion gave birth to the the future even while developing our 
laptop computer. And markets eagerly first laptop. 

responded to the laptop and to sue- Our strategy was to think about the 
ceeding generations of portable com- future and create all the parts needed to 
puters. make our ideal computer work. This 

proved to be more successful than we 
Recent surveys show that Toshi- had ever imagined, as Toshiba is also a 
ba has long been a leader in the leader in key components, including 
key portable computer markets, colour TFT LCDs, hard-disk drives 
What do you think accounts for and lithium-ion rechargeable batteries, 
this popularity? We are still creating visions for the 

First of all, the portable computer future, of course. We stay at the lead- 
market is very technology-driven. We ing edge by envisaging ideal products 
strive to introduce the most advanced and carrying out the development to 

reach them. 


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technologies and realise smaller, 
lighter portable computers. 

Secondly, we always adopt industry 
standards. One example is our use of 
standard PCMCIA expansion slots. 
Some of our competitors chose propri- 
etary expansion slots. We opted for the 


With your focus on the future, 
what kinds of portable computers 
can we look forward to? 

Portable computers will continue to 
get lighter and smaller, of course. 
Many users are now replacing their 


industry standard for the benefit of our ™ 

custom*™. With this pcmcia .t.n. deskt0 P computers with portable com- 


were unveiled 



show. Why are these computers 
attracting so much attention? 

Toshiba : The series represents the next 
generation in ultra-portable computing. 
It is a subnotebook with the functions 
and capabilities of a desktop, thanks to 
the incorporation of several industry 
firsts. The T3400CT is the first sub- 
notebook with a colour thin-film-tran- 
sikor-active matrix LCD. This display 


rope, becoming quite a hit. That was 
the foundation on which we built our 
line of portable computers. 

At that time, portables had only lim- portable computers at prices to suit a 


customers. With this PCMCIA stan- 
dard, customers can use expansion 
cards developed by companies other 
than Toshiba. This is good for our cus- 
tomers and also provides an incentive 
for third-party vendors to create new 
cards that can be used in Toshiba com- 
puters. 

Thirdly, we offer a wide range of 


ited capabilities, but we recognized the 
need for more advanced desktop fea- 
tures to be incorporated into portables. 
The first 16-bit portable computer was 
the T3 100 laptop series, launched in 
1986. This was also introduced first in 


variety of needs and budgets. Our cur- 


Vfl 


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• brings the colour, clarity and detail of Europe and then later in the United 

* desktop monitors to subnotebook-class States and Japan. 

In 1989, the transition from the lap- 


computers. It is also the first subnote- 
book to have a local bus video graphics 
accelerator to enhance the performance 
of Windows. And it is the first and 
only portable computer to use a lithi- 
um-ion battery, which allows a much 
longer operating time, meeting one of 
the major demands of businesspeople 
who travel with portable computers. 
,Qf course, the T3400 series also fea- 
tures the computing power of Intel s 
SL Enhanced 486SX, operating at 
33MHz. It also has a 120 -megabyte 
hard disk and a PCMCIA slot for ex- 


top to the notebook began. Toshiba 
was die first computer maker to incor- 
porate a 2 -5-inch hard-disk drive in a 
notebook. 

Since (hen, there has been a steady 
progression, upgrading the CPUs to 
give our notebook computers the same 
capabilities as desktops. 

At the same time that we were devel- 
oping successive generations of 
portable computers, we were also es- 
tablishing sales and service networks 



Toshiba 's Ome Works in Japan, a highly ad - 


puters because they increasingly get all 
the features they need and want in 
compact machines that do not take up 
as much room as desktop models. 

At the same time, more functions, 
such as multimedia capabilities, will be 
incoiporated into smaller computers. 
What you will see is a greater range of 
portable computers, varying in size and 
capabilities to suit the different needs 
and preferences of computer users. 

How will Toshiba differentiate its 
products from those of its com- 
petitors? 

It is important that we introduce 
products that fit the market Being first 
in the market with new technology has 
been and will continue to be important 

But market acceptance has recently 
been becoming even more important 
Hie personal computer is still said to 
be difficult for beginners to use. Soft- 
ware firms have recently been concen- 
trating on making software easier to 
use. 

We think it is our job to make the 
hardware easier to use. This will be in- 
creasingly important as the incorpora- 
tion of multimedia functions makes 
computers more complex. 




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The needs of personal computer 
users are different in every country. We 
think of the portable computer as a 
kind of fresh food that has to be deliv- 
ered to users as soon as possible after 
its development. And, of course, it 
must reflect their changing tastes. 

This makes production near the mar- 
ket very important Since requirements 
are different in each country, it is better 
to produce the products close to the 
markets. 

Our production system is based on 
having minimum inventory. We make 
and sell what each market wants as the 
needs of that market change. Finally, 
automation of the production process 
will advance even as personal comput- 
ers become smaller. In the end, manu- 
facturers will have to choose between 
manufacturing where they are close to 
the market or where labour is cheaper. 
We are choosing the former, but we are 
maintaining our flexibility. If it proves 
more efficient to produce some prod- 
ucts in other countries, we will do so. 

This strategy extends to sales. In Eu- 
rope, we have our PC business head- 


i pandability. p 

; ’ The colour model is just 251mm 

; wide, 46mm high and 201mm deep, 
: and weighs just over two kilograms. 
; In addition to its technical capabih- 
ties, the T3400 series also represents a 

; new approach to the design of portable 

; computers. 


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throughout Europe. Most of the com- vanced facility for production of computers. 
puters we sell throughout Europe are 
made in our factory in Regensburg, 

Germany. We believe this kind of ap- rent lineup includes the T1910 and 
proach is central to meeting the needs TI950 series, which offer maximum 


quarters in Germany, and marketing 
And just as Toshiba created the strategy is formulated in each of the 
portable personal-computer market, countries where we operate, 
we want to further expand the market. 


of our European customers. 


A: 


Could you describe the design 


Why did Toshiba decide to con- 
centrate on developing portable 
computers? 

Our aim was to develop something 


price performance; the high-perfor- 
mance T4700 and T4800 series; the ul- 
tra-portable T3400 series; and the mo- 
bile multimedia portable computer 
T6600. 

Finally, Toshiba's quality, reliability 


introducing multimedia functions into 
portable computers. 

We also want to develop the kind of 
personal computer that supplements 
human abilities. One concept in devel- 


Aside from the T3400 series, 
what other products can we see at 
Toshiba’s CeBIT exhibit? 

We will show some of our recently 
released new products. We will also be 






features? -a- a™ 

Toshiba has earned recognition from 
both customers and critics for i a 
tion to both ergonomics and appear- 

ance in the design of its 

puters. Several important innovations 

were added to the T3400 senes. 


In Touch with Tomorrow 

TOSHIBA 


oping future portable computers is to showing our most powerful portable 
think of them as personal companions, computer yet, the T4800CT, incorpo- 
This will mean different computers rating Intel’s 75MHz DX4 processor. 

We are sure that will attract a great deal 
of interest. We value CeBIT very 
much. It is an ideal forum for explain- 
ing our concept of portable computer 
development We all look forward to 
sharing that with the people who visit 
us in Hall 6. 




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Page 6 


TUESDAY, MARCH 15, 1994 

OPINION 


Heralfr 



PU BUSHED WITH TlfK NEW tORK TIMES AND THE WASHINGTON POST 


The Struggle Over Ukraine 


SEributie. A Modest, Fragile, Partial Success, but Still a Success y W' 

THE WASHINGTON POST ' 


i ARiS — President Bill Clinton at last has 


Ukraine is an independent cauntry.though 
many Russians are reluctant to recognize that 
fact Hard-line remnan ts of Russia’s mQitaiy 
and KGB are eager to recapture it Their strate- 
gy is to stir up civil unrest beginning in Crimea, 
which is part of Ukraine. By undermining 
Ukraine's territorial integrity, hard-liners hope 
to destroy the republic’s independence. 

That strategy could lead to avD war and 
could erode the power of Boris Yeltsin and his 
fellow reformers in Russia. Obviously, they 
cannot afford to play along. Obviously, too, 
Washington needs to help them. 

Ukraine has a tenuous hold on Crimea. The 
Soviet Union ceded it from Russia in 1954. 
But its population is mostly Russian; many 
residents are retirees from the Black Sea navy. 

Events in Crimea look ominously like the 
divi de-and-conquer strategy Russia's hard- 
liners followed in Moldova and Georgia, 
where Russian secessionists, with the complic- 
ity of renegades m the military and KGB, 
declared independence and called on Russia 
to protect them. 

Last month, Crimea elected Yuri Meshkov 
president. Mr. Meshkov, an ethnic Russian 
and former KGB border guard, won over- 
whelming support from fellow ethnic Rus- 
sians in a campaign managed by a reputed 
covert operative from Moscow, after which be 
appointed a citizen of Russia prime minister. 
He will soon call for a referendum on Crimean 
independence and could then call on Russia’s 
army to protect Crimea. 

Meanwhile, the breakaway threat in Cri- 
mea has energized rabid Ukrainian national- 
ists, who fear a broader plot to split off 
eastern Ukraine, with its large Russian popu- 
lation. Most Russians in Ukraine voted for its 
independence in 1991 — many in the belief 


that it would be more prosperous than Russia. 
Kiev’s economic mismanagement is giving 
them second thoughts. 

Some still think of themselves as Soviet 
citizens; others share regional rather than eth- 
nic identities. But about a quarter have mar- 
ried ethnic Ukr ainians and Speak Ukrainian. 
And many Russians in Ukraine do think it 
a separate country. 

That is not true in Russia, where few Rus- 
sians, even reformers, have reconciled them- 
selves to Uk rainian independence. 

That stren gthens ultranationalists who de- 
sire to regain Ukraine, or at least the part where 
Russians predominate. But controlling 
Ukraine would require an army of occupation 
far larger than the one driven out of Afghani- 
stan. Raising such an army would sap Russia's 
resources, and a functioning draft could not be 
restored without force. This step could not be 
taken without wrecking reform and restoring 
the old order in Russia. That is exactly what the 
empire rebuilders want to do, and why Mr. 
Yeltsin and his reformers would be wrong to 
cooperate with them on Ukraine. 

Washington may be able to help. It can try 
to mediate disputes. It can encourage the 
Conference on Security and Cooperation in 
Europe to assure minority rights on both sides 
of the border. It can encourage Ukraine and 
Russia to undertake joint economic develop- 
ment in heavily Russified eastern Ukraine 
and nearby Russia. And it can channel U.S. 
aid for that purpose. 

In short, the United States can try to get 
Ukrainians and Russians to concentrate cm 
economic improvement, not ethnic identity, 
and give than every opportunity to better 
their common lot in life. 

— THE NEW YORK TIMES. 


Too Many Empty Chairs 


Last week, a U.S. administration that has 
been in office for 14 months leaked word that 
it finally had the candidates to fill the Equal 
Employment Opportunity Commission — 
and they are still being vetted. Top posts at 
the Defense and Justice departments went 
vacant for months. Inspector-general jobs in 
several agencies are still empty. The National 
labor Relations Board came close to dysfunc- 
tion because of empty chairs. Some ambassa- 
dorial posts were recklessly left empty to the 
consternation of foreign governments. Poten- 
tial nominees were left dangling for months. A 
study by the nonpartisan Congressional Re- 
search Service found that at Christmas time; 
27 percent of the top positions in the executive 
departments were stiQ awaiting no minations . 
At the independent agencies, the vacancy rate 
for jobs filled by the president was 39 percent 

What is the problem hoe? Sane say it is an 
inexperienced, understaffed and at times in- 
competent personnel office run by people 
who do not understand either the nature of 
the jobs being filled or the qualifications re- 
quired of those who would fill them. Others 
point to new-age cronyism: not your stereo- 
typical Boss Tweed's nephew- type figure in- 
stalled mainly as a paycheck collector, but 
rather a range of college pals and other asso- 
ciates of the Clintons and those dose to them 
who are stashed in offices for which they are 
far from the best choices available. 

There is truth to both these impressions and 
also to the charge that the president and 
Hillary Rodham Clinton and the worker bees 
in the White House personnel office have 
become overly involved in the vetting process, 
all the way down the hierarchies of the various 
cabinet departments. 

A certain amount of back and forth be- 
tween the White House and cabinet secretar- 
ies on appointments is inevitable; The presi- 
dent needs loyal people in the agencies, and 
cabinet secretaries sometimes propose clunk- 
ers. But there is a real history hoe of the thing 
working the other way around: worthy, quali- 
fied would-be nominees being sidetracked for 
less-qualified pals. Certain nominees seemed 
to require the approval of six or eight different 


White House staff members, some of whan 
were hardly qualified to have an opinion — 
and, of course, of the president himself. 

In and out of the White House, the delays 
are often attributed to the administration’s 
efforts to create a government that is regional- 
ly diverse and includes a large number of 
women and members of traditionally exclud- 
ed minority groups. Fairness and diversity are 
worthy goals. But the administration has 
made affirmative action even more complicat- 
ed than it had to. Agencies, especially early 
on, were expected to cone up with whole 
"slates” for top posts. 

If a potential nominee who was, say, an 
African-American or a woman or a Southern- 
er decided later not to take a job, the whole 
slate of which he or she was part might be 
rejected or juggled considerably. This was 
ridiculously time consuming, leaving essential 
jobs for which there were suitable prospective 
no mine es unfilled. The administration also 
has used up valuable time in slow-motion 
brokering among various interest groups and 
Democratic members of Gongress who saw a 
chance to put their stamp an government 
appointments for the first tune in 12 years. 

It is true that there are procedures the 
administration does not control — the seem- 
ingly endless FBI investigations, the intermi- 
nable forms that potential nominees need to 
fill out Every minor scandal, it seems, pro- 
duces a new list of queries, a new set of 
worries. The purpose of vetting is to prevent 
erodes and spies from getting high govern- 
ment jobs. But this looks more like investiga- 
tion for investigation's sake. And the adminis- 
tration's term is more than a quarter over. 

The While House reports that of the 602 
top jobs Mr. Qinton will fill, nominations stiD 
need to be made for 134. His aides say that 
candidates have been picked for all but 47 of 
these and are at various stages of vetting, 
though it is hard to know these days how long 
that wfll take. Delays breed further delays, 
urgency is lost with the passage of time, and 
empty chairs begin to be a way of life. Empty 
chairs make rotten policy. 

— THE WASHINGTON POST. 


Lessons in the AIDS War 


The federal Centers for Disease Control 
have just released the latest figures on new 
AIDS cases. They appear to be horrendous, 
with 103,500 new cases reported in 1993, an 
increase of 111 percent over the previous year. 
But a more careful reading is much more 
encouraging, because the figures are not basal 
on comparable definitions of the disease. 

Until last year, people who were HIV-posi- 
tive were said to have developed AIDS only 
when certain kinds of blood infections, Kapo- 
si’s sarcoma or any of 21 other conditions were 
present In order to get people into AIDS 
treatment and Social Security disability bene- 
fits sooner, however, the definition was ex- 
panded to indude those who had developed 
any of four new qualifying conditions: pulmo- 
nary tuberculosis, recurrent pneumonia, inva- 
sive cervical cancer or a drop in CD4 i m m u ne 
cells to a fifth erf the level present in healthy 
individuals. This new definition was expected 
to result in a one-time doubling of reported 
cases in 1993; the figures were even higher. 

But by the old definition, the number of 
reported cases would actually have been a bit 


lower than in recent years: about 48,000. 

The new figures also reflect a continuing 
shift in the demographic pattern of AIDS 
infection. Nine percent of last year’s cases are 
attributable to heterosexual contact. Those 
most at risk are individuals with multiple sex 
partners who have AIDS or HIV or are intra- 
venous drag users. The disease continues to 
spread among women, blacks and Hispanics 
and intravenous drug users. But the propor- 
tion of new cases attributable to homosexual 
contacts continues to decline. 

In San Francisco, for example, city health 
officials say the rate of new infections peaked 
in 1992 and has begun to decline. What made 
the difference in San Francisco? A well-orga- 
nized gay community that spurred intensive 
education and prevention programs. Differ- 
ent populations, particularly those like prosti- 
tutes and drug addicts who live on the mar- 
gins of society, may be more difficult to reach. 
But it is now dear that intensive education 
campaigns produce results. They should be 
duplicated nationwide. 

— THE WASHINGTON POST. 



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fragile, but reaL The U.S. derision to push 
NATO into Bosnian intervention has lifted 
the siege of Sarajevo and been followed by a 
successful American diplomatic effort to 
bring the Croatian and Bosnian governments 
to form a federation. This agreement is sched- 
uled for signature in Washington within the 
next few days. 

The futile Owen-Stollenberg negotiations 
were brushed aside by American diplomats, a 
rebuke to Europe's disunity on the Yugoslav 
issue and also a demonstration of bow badly 
the program for Europe's political and securi- 
ty unification has gone wrong. It demonstrat- 
ed that in a matter like this, without the 
United States, "Europe” for practical pur- 
poses is impolenL 

This American-sponsored agreement re- 
verses the European Union's effort to end the 
Yugoslav war through an ever more detailed 
ethnic partition of Yugoslavia, meant to pre- 
empt through political negotiations what Ser- 
bia and Croatia were already accomplishing 
by war and “ethnic cleansing.” 

At Geneva, all of Bosnia- Herzegovina was 
being chopped into smaller and smaller eth- 
nic entities in what amounted to a reductio ad 
absurd urn of the disastrous idea of universal 
ethnic self-determination. Under the Ameri- 
can-sponsored plan, Croats and Bosnians w31 
collaborate on a limited number of issues at a 
federal level, while governing themselves oth- 
erwise on a cantonal basis. 

It is a politically fragile agreement that the 
Croatian leader, Franjo Tudjman, has 
agreed to only under heavy German as well 
as American pressure, and because he has 
the wit to grasp that Croatia has no future as 
a European outlaw stale — the direction in 
which it was headed. He sees that member- 
ship in the Council of Europe, and collabo- 
ration with the European Union and NATO, 


By William Pfaff 

with World Bank loans to follow, is the only 
intelligent way to go. 

The eventual fate of this agreement for 
Bosnian -Croatian federation wifi depend on 
what the Bosnian Serbs do, and that depends 
on what the Serbian and Russian govern- 
ments tell them they must do. 

Thus far, Russia’s role has been one of 
generally constructive collaboration with 
the Western powers. The Serbs have found 
their fantasies of omnipotence unfulfilled, 
and their proclaimed conviction that Russia 
would support them against all the world 


unwarranted. There is thus a slender reason 
to think that the war may be brought to an 
end, or at least to an enduring armistice. 
Several conclusions emerge from the consid- 
eration of how this has happened. 

The first is that force works and, in some 
circumstances, is essential. The use of force 
has transformed the political dimate sur- 
rounding Yugoslavia. The present American 
military doctrine of acting only with an irre- 
sistible and overwhelming commitment to to- 
tal victory has been shown to be a misapplica- 
tion of the lesson of past wars. In practice, 
this proves an obstacle to the politically use- 
ful employment of limited force. 

There obviously are cases where limited 



The Scream 


force may prove insufficient and where po- 
litical as well as military considerations pre- 
dude a larger application of force. That is 
not, as often made out in the debate ova 
Yugoslavpoticy. a reason for no use of face 
at aH It is a practical issue that has to be 
assessed case by case. 

In Yugoslavia, there is reason to think that 
a limited foreign intervention to punish the 
mi rial aggressions and bring the parties to 
negotiations could hare succeeded. On the 
other hand, a massive intervention to impose 
a solution was out of the question. In the 
event, tin European powers' weH-intentiooed 
humanitarian intervention merely facilitated 
all rides' waging of total war. 

The most important lesson of the last 
month has been the demonstration that “the 
West” is incapable of acting without the 
United States. This does not follow from the 
UJS. advantage in military «wd material 
power. In purely economic and industrial 
terms, Europe is stronger. Western Europe 
has simply demonstrated its inability, as 
"Europe^lo conduct a foreign policy. Once 
again we see that coalitions do not have 
foreign policies; nations do. 

Even when a European government takes 
an individual initiative despite the hesitations 
of its allies, as France did at the beginning of 
February by deman d ing that NATO lift the 
Sarajevo siege, there are resuhs only when the 
United States also acts. In terms of practical 
politics, there is no reason today to expect tins 
situation to change. 

The United States is the only superpower 
today because the Europeans have made it so. 
But Bffl Ginton’s United States i himI™ a 
reluctant superpower, and its Balkan successes 

than reassure iL The^rituation is me ofcon- 
tmumgand dangerous Western uncertainties. 

International Herald Tribune. 

© Los Angeles Thrust Syndicate. 


•- ’■ 

:&• . - 

& nr - ? ■ 








Australia Is Becoming More Asian, but Also 'More of Itself 


S YDNEY — When Lyndon John- 
son was struggling in the quag- 
mire of Vietnam, be took comfort 
from his favorite ally in the war: 
Australia. Australian troops were 
there from 1966 to 1972, almost to 
the final American withdrawal. 

Next month Prime Minister Paul 
Keating of Australia win fly to Ha- 
nd His visit is a symbol of the most 
important trend in this country. Aus- 


By Anthony Lewis 


tralia is intent on finding a place 
for itself in Asia. And part of that is 
a greater willingness to differ with 
the United States. 

American secretaries of state used 
to visit Canberra and bask in the 
warmth of agreement and respect 
But dial was not what Warren 
Christopher encountered when he 
was there the other day, on his 
way to China. 

The Australian foreign minister, 
Senator Gareth Evans, told him 
bluntly that Australia disagreed 
with President Bill Clinton’s invoca- 


tion of the threat of trade sanctions 
against Japan. That was managed 
trade, he said, not multilateral free 
trade. If it had any effect, it would 
simply lead to a preference for 
American goods in Japan — and 
hurt Australia and others. 

The government and Australian 
commentators were equally critical of 
the Clinton administration's pressure 
on China to improve its human rights 
record by June or lose its most-fa- 
vored-nation trade status. 

Mr. Evans told the press after two 
days of meetings with Mr. Christo- 
pher that a UJS. withdrawal of Chi- 
na's favored-nation status would 
have "a very adverse impact” on the 
economy of all Asia. He said it 
would be especially devastating 
for Hong Kong but would also 
hurt Australia. 

The sharp disagreement on trade 
policy — and on what Australia sees 


as rough American tactics — illus- 
trates the change in relationship with 
the United States. It is a change both 
political and psychdogicaL 
When the British colonies on this 
island-continent came together as 
Australia in 1901, the new country 
remained resolutely British — with a 
colonial inferiority complex. 

The Australian writer Thomas 
KeneaQy (author of, among other 
books, "S chindler ’s Ark,” on which 
the movie “Schindler’s list” is based) 
remarked recently that Australian 
culture and society had to recover 
"from a sense of exfle:” 

After World War II the ties with 
Britain frayed, no doubt inevitably 
because of distance and the aid of 
empire. America replaced Britain as 
the powerful friend, a relationship 
formalized in the ANZUS Treaty. 

Australia's eager support of Amer- 
ican policy in Vietnam showed the 


closeness of the relationship — and 
probably marked its high point. 

For Australia, like most developed 
countries, has come to see the great 
issues and potential conflicts in the 
world as economic rather than mfli- 
taiy. And Australia's neighbors in 
Asia are the fastest growmg in the 
world economy. 

Until as recently as 25 years ago 
Australia was formally committed to 
not being Asian. That was the import 
erf its White Australia policy, baaing 
Asian immigrants. Since the repeal of 
that law, a flow of Asians has gradu- 
ally developed. They now make up 4 
percent of the population. A Sydney 
taxi driver said he canze from Canton 
seven years agb “to do better.” 

Echoes of America remain. Aviat- 
ing American has a certain feding trf 
dfgivu: trf familiar issues and trends. 

Australia’s old reputation was as 
one of the most macho cultures on 
earth. But the country has a strong 
women’s movement now, and two 


women are even moving toward the 
top in politics. 

There is a sensitivity about gender 
in language, sometimes to the same 
absurd degree as in American politi- 
cal correctness. A woman applicant 
for a university postion was criti- 
cized recently for referring to some- 
one's “mastery” of a subject 

Sydney has had a gay and lesbian 
March Gras for years. Last week’s 
attracted 500,000 onlookers, and the 
Australian Broadcasting Coro, did an 
hour’s program on the parade. A few 
politicians complained about the 
broadcast but most people seemed 
happy about the event 

Maybe in that respect Australia is 
more comfortable with diversity than 
an angry American society is today. 
In any case there is a distinctiveness 
about this country now. It is not 
really a copy of anything. "Austra- 
lia,” Thomas Keneafiy said, "has be- 
come more of itself.” 

The New York Times. 


Taiwan’s Young Democracy Prepares for the Post-Deng Era 


t. 


T AIPEI — East Asia is in the 
midst of dramatic change. Eco- 
nomic reform policies in China and 
Vietnam, the democratization of 
South Korea, the peace settlement 
and elections in Cambodia, the end 
of the Liberal Democratic Party’s 
long monopoly on political power in 
Japan, and the emergence of influ- 
ential political and economic group- 
ings nave all commanded interna- 
tional attention. 

We bear less about the transforma- 
tion of Taiwan. The island's postwar 
economic miracle is widely known. 
But fundamental changes in its do- 
mestic and foreign policy deserve 
closer attention. 

In recent years, the governing 
Kuomintang has jettisoned its au- 
thoritarian past, and the first demo- 
cratic system in Chinese history is 
taking shape. The Kuomintang is the 
worlds only example of a Leninist 


party that has devolved power volun- 
tarily and created a competitive mul- 
tiparty system. 

Democracy is still in its infancy, 
but Taiwan politics is now fiercely 
competitive, and the government is 
responsve to the electorate. Officials 
are regularly grilled by legislators and 
held accountable for their actions. 
Taiwan today can legitimately call 
itself "Free China," in sharp contrast 
to the mainlan d. 

The Kuomintang is not without its 
problems. It is accused of rampant 
vote-buying and corruption. Last 
year a maverick faction split off to 
form the New Party, which draws its 
support from younger, well-educated 
members of the middle class, and 
from mainland ers disenchanted with 
the more accommodating stance the 
Kuomintang has adopted toward 


By David Shambaugh 

:d power volun- Beijing. But overall the party has be- 
impetitivemu]- come more populist, allowing it to cut 
into the traditional constituencies of 
in its infancy, its main rival, the Democratic Pro- 
is now fiercely gressive Party, 
government is In democratizing, (be Kuomintang 
lorate. Officials has brought the military and security 
(legislators and services to heeL The navy, currently 
■ their actions, embroiled in a procurement scandal, 
ultimately call is being brought to account by an 
i sharp contrast inquiring press, legislature and exec- 
utive. Tne dreaded Garrison Com- 
not without its mand has been disbanded. Martial 


law was ended in 1991, after 42 years. 
Sedition laws have been abolished. 
Respect for human rights has dra- 
matically improved. 

As part of the cleansing process, 
the Kuomintang is finally compen- 
sating families of victims of the noto- 
rious "February 28 Incident” of 
1947, when retreating troops of the 


Reich Takes On the Jobs Conundrum 


W ASHINGTON — The "jobs 
summit” of industrial na- 
tions that ends Tuesday in Detroit 
is another example of leaders final- 
ly catching up with the people. 

American families figured out by 
the middle of the Bush administra- 
tion that the layoffs hitting (hem. 
their friends and their communities 
were not just another swing in the 
familiar business cycle. When giant 
firms like General Motors, Du 
Pool Boeing and IBM announced 

The Clinton team is off 
to a good start . But 
America’s bureaucratic 
battlefields are littered 
with the bones of jobs 
programs that faded. 

“restructurings'* of their work 
forces that eliminated thousands of 
jobs, there was a sense of finality 
that drilled people's hopes. 

The anxiety bred by those layoffs 
is one reason George Bush is no 
longer president. Even as the eco- 
nomic rec ov ery that began in Mr. 
Bush's final year gains momentum. 
Mr. OimoD knows that the “struc- 
tural unemployment” problem re- 
mains to be solved. 

The administration’s response to 
ibis challenge has been impressive. 
But history suggests that this may be 
even a tougher nut to crack than the 
tasks that Mr. Clinton has taken cm 
with health care reform, welfare re- 
form and “reinventing” government. 

The bureaucratic battlefields ctf 
Washington and the nation are lit- 
tered with the bones of job training 
and employment programs that 
were highly touted but latkd. 


By David S- Broder 

The record does not intimidate 
Labor Secretary Robert Reich. 
“There are working models in Ham- 
den, Connecticut, in Baltimore, in 
Louisville, Kentucky, in Sunnyvale, 
Calif ornia-” he said in an interview. 
"And we are building real account- 
ability standards into the system." 

Skeptics would question his as- 
suredness, but Mr. Reich has accom- 
plished some thing*; that are, in 
Washington terms, unprecedented. 
He reamed across the jurisdictional 
moat of the Washington MaO and 
found in Education Secretary Rich- 
ard Riley a partner who was wflHng 
to overcome the traditional jealou- 
sies between their departments. 
Their collaboration has produced a 
school- to-work transition bQl soon 
to readi the president's desk. 

The two departments will use the 
modestly funded bill to gel better 
coordination at the state and local 
level of work-related high school 
programs fra those students — 75 
percent or the total — who do not go 
on to get four-year college degrees. 

Far more ambitious is the “re- 
employment plan” recently intro- 
duced at the White House, ft ad- 
dresses the fact that the nature of 
joblessness has changed. As Mr. 
Reich said, the current system of 
unemployment benefits was de- 
signed to "provide something to 
tide you over until you get the 
old job back again . . . after a re- 
cession.” But last year, three- 
fourths or the layoffs involved per- 
manent job losses. 

The $36 billion (hat state and 
federal governments spent last year 
on regular and emergency unem- 
ployment benefits kept people 
afloat, but rarely did much to help 
them find new jobs. As a result, an 
unprecedented 20 percent of Amer- 


ica’s unemployed have been out of 
work for more than six months. 

Mr. Reich's strategy calls for 
eliminating the special eligibility re- 
quirements for several job training 
programs, requirements that slow 
down laid-off workers who want to 
acquire new skills. "In this day and 
age," he said, "it shouldn't matter 
why you lose your job.” He would 
merge them into a single program, 
ran through “one-stop job centers 
where all options — current vacan- 
cies, training programs and coun- 
seling on choices — would be readi- 
ly available. 

It sounds eminently sensible. But 
many of the elements have been 
tried, with scant success. When 
Richard Nixon ran for president in 
1968, he promised a "computerized 
job data bonk." The Clinton plan 
contains the same promise. 

That is not the only example. In a 
paper delivered at an American En- 
terprise institute conference cm this 
issue, James Heckman of the Uni- 
versity of Chicago cited a vast litera- 
ture of studies rat the “ineffective- 
ness of government training 

programs." Lawrence Katz, the chief 
economist in Mr. Reich’s depart- 
ment, responded that many of the 
criticisms Mr. Heckman and others 
have made are valid, bnl he inward 
they have been taken into account in 
designing the administration's pro- 
posal. Others in both industry and 
labor who have experience with job 
training and counseling fra the long- 
term unemployed agree that govern- 
ment programs in this area have a 
spotty record. 

It is a big gamble, carrying a $13 
billion price tag over five years. Mr. 
Reich says field-testing has demon- 
strated its practicality. With more 
than 2 million dislocated workers a 
year looking for help in finding 
jobs, you have to hope he is righL 
The Washington Post. 


Nationalist Army massacred tens of 
thousands of nauve Taiwanese. 

There is no greater symbol of Tai- 
wan’s political transformation than 
Sbih Ming-teh, the Nelson Mandela 
of Taiwan. Having spent 14 years in 
prison on sedition charges, be has 
become an articulate and fiery Dem- 
ocratic Progressive leader. He and the 
party continue to advocate Taiwan's 
independence, but they are not pun- 
ished for their beliefs. 

Taiwan's relationship with Boring 
has changed dramatically since 1989. 
While the rest of the world was pun- 
ishing the mainland regime for its 
brutal suppression of the pro-democ- 
racy movement, Taiwan was forging 
a quiet and steady rapprochement. In 
the past five years, trade between the 
two through Hong Kong basamount- 
ed to $25.6 billion. Nearly 10,000 
Taiwan companies have invested a 
total of more than £6.4 billion on the 
mainland, mainly in Fmian Province, 
across the strait from Taiwan. 

Taiwan businessmen have capital- 
ized on economic and cultural affini- 
ties with China. Penetration of the 
mainland market has helped Taiwan 
avoid the recession that has afflicted 
Japan and many other countries. 
Nearly a million Taiwan people visit 
China each year. Although Taipei stiD 
does not permit direct trade, trans- 
port. postal or commercial links, such 
ties are under intensive review. They 
may be pemriued laler this year if 
Bating oners a concession in return. 

the Kuomintang government still 
calls itself the Republic of China, but 
it no longer clings to the fiction that it 
is the sovereign government of all 
China, It now realistically riaime 
only suzerainty over Taiwan and the 
offshore islands. On this baas. Prime 
Minister Lien Chan recently told the 
legislature that Taiwan would consid- 
er reunifying with the mainl and un- 
der a federation or confederation. 

As long as Deng Xiaoping is alive. 


Bepog is unlikely to agree to such an 
arrangement. It continues to refuse to 
recognize Taiwan as a political entity, 
asserting instead that it is a renegade 
province. Nor has China renounced 
the possible use of force against Tai- 
wan. Beijing also continues to be un- 
compromising on Taipei's participa- 
tion in the international community. 

Taiwan’s recent efforts to rejoin 
the United Nations are not likely to 
succeed. But more and more coun- 
tries are dealing with Taiwan at a 
semi-official level and support its en- 
try into international organizations. 

President Lee Teng-hui, a Taiwan- 
ese, recently completed an unprece- 
dented visit to the Phitippmes, Indo- 
nesia and Thailand. By hosting Ml 
L ee’s “vacation” visit, those coun- 
tries showed that they were willing id 
ignore Beijing’s wrath. The American 
sale to Taiwan in 1992 of 150 F-16 
fighters as wefl as Harpoon nrisriks 
and fr igat es, followed by France’s 
sale of 60 Mirage-2000 fighters and 
naval vessels, snows that Taiwan & 
breaking out of its isolation. 

Taiwan’s flexible diplomacy anS 
financial clout as the odder of the 
world's second-largest foreign ex- 
change reserves will not boy it intrt- 
national recognition as a sovereign 
state. However, its more realistic pol- 
icy toward the mainland has in- 
creased its legitimacy in the interna? 
tional community. The continued 
democratization of Taiwan will win {t 
farther respect and credibility. 

The future of post-Deng China re- 
mans in doubt A collapse of ConJ- 
munist Party rale is one possibility. 
Taiwan has positioned itself well far 
a future role in mainland affairs. \ 

The writer is senior lecturer in -CW- 
nese politics at the School of OriodM 
and African Studies, U niv ers it y of Lon- 
don, and editor of The China Qumerto. 
He contributed this comment to the In- 
ternational Herald Tribune. 


IN OUR PAGES: 100, 75 AND 50 YEARS AGO 
1894: No Secret Treaty bad relied. Tafl and dim, Cottm. who 

* u ahrmt T) vnn «f j miUf. 


ST. PETERSBURG — An authorita- 
tive denial is given here to the report- 
ed conclusion of a secret treaty be- 
tween Russia and China with regard 
to the Pamirs and Corea. On the 
other hand, it is slated that negotia- 
tions which are proceeding in this 
capital between the two Powers con- 
cerning the Pamirs have, during the 
last few days, taken a more favorable 
turn, and there is every prospect of an 
agreement being arrived at shortly. 

1919: Anarchist to Die 

PARIS — Emile Col tin, the averred 
Anarchist who attempted to assassi- 
nate M. Gemeneeau, the French 
Prime Minister, was last ev ening 
[March 14| sentenced to death by the 

Third Court-Martial of the Paris mil- 
itary district, sitting in the great As- 
size Hall of the Palace of Justice. The 
decision of the Court left no room for 
“extenuating circumstances’" on which 
Maltre Oscar Bloch, Collin’s lawyer. 


had relied. TaQ and dim Cottin, who 
is about 22 years trf a ge, seemed indif- 
ferent to his fate, althoiKhat the men- 
tion of certain points that indicated 
premeditation cm his pan, be nervous- 
ly lifted a protesting hand 

1944: In Rome’s Defense 

Washington — [From our New 

York edition:} President Roosevelt, 
obviously mindful of the plea of POpe 
Pius XII that the Allies and Germans 
spare Rome from destruction, de- 


step in the Nazi policy of total war— 
a policy which treats nothing as sar 
cted" —and declared that the United 
States, in fi ght in g for freedom of refi- 
gion would continue to uy to safe- 
guard religions and cultural monu- 
ments. The President read a 125 - 
word statement on the subject at hs 

S conference, an d when he had 
icd, be gave his desk a deter- 
mined thump and said that’s that. • 




o* 






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INTERNATIOWAL HERALD TRIBUNE, TUESDAY, MARCH 15, 1994 

OPINION 


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Why Clintonites Shudder 
I At Televising Whitewater 

5 j ®y William S afire 

j W dent counsel Robm^kf^r wanj ®J j hi “ 11131 bc was going to be 

4 Dcn ?°^a. ts ’ fav orite Republican ^- *?, bend *E fai y ‘ r n . ■ 

1 yer, is doing the job the Clinton admi^ • 11 was Bruce L^dsey. w &o 

! tstration hired 'Em * d? "“^reponers at the time.) 

1 Congress from holding public Sri™ ^o^eressional leaders 

, into the ’80s wrongdom® in 1 f 10 ^ M - r * Fi ? ke WlU find pauern 

' and the -90s cover^rm ^ w“ £5? °l huslame ? impropriety to fall short 
! The White House stratew S? 1011, ° f cnm,Ila l conspiracy. The unlawful 
I to criteria R5 **g J-g.-Vrt cp-'may have g,v Cn 

* criminal level, thus sLlino 8 a if iS c the R ? se Law F,rai Urac 10 commence 

! deuce of stateho^sJ^ L^rS' “i s ^ edd W *»» *h« is 

1 ana presi- no_ tape-recorded smoking gun. 

! " — , J f fhe hoped-for Fiske interim rc- 

! J\tttD]f the hearinjr* nn TV ra P s knuckles but does 

1 ,, *ngsonir notreconimendprosecution,Demo- 

i would transfix the voton. crats Will say: “See? No serious 
voters, wrongdoing.souohearings.-’Thisre- 
j who would See a new set hance on Mf. Fiste is why the Demo- 

1 , $rats refuse to let the Independent 

. OJ venal politicians. Counsel Act — which cduld lead to 

■ 1 the appointment of truly independent 

' Power. U wrongdoing Hanry 

feel 

1 Mr FisVi* wac .J, , ««Tuption. Senate Banking chairman 

* . V*v ri5K . e w ?s chosen by the people Don Rieeie of the Keatine Five nro- 
1 he 15 investigating for good reason: He tects his future lobbviaa career with 
j ^l a c CU ^ e . ly . he, P P rev ? nt dreaded this final act of partisan perfidy. But 

1 bfthe%iHl!n^hA r0 J ,er -, ‘fiS™ 1101 } faearin &s-conlainmenl wifi not work; 

J mrn *k5Tk counsel sometimes hypocrisy asks too much. 

Ski h t?v?^ S Md k* ^ween Why are Democrats frantically 
IHSI2S , aQd « eaillve branches is avoiding televised hearings? Because 
SSdSTSf m they know that TV transforms “af- 

contanunatl on fairs** into “scandals.” Voters bored 
,U1 ThP rr S . e e p IO i? S ' u by secondhand accounts will be trans- 

, The Climon-Fiske contention that rued by the sight of a new set of venal 

:JSJSHr tul S.-“ d - f. on R re ® siorial poUticians, relentless questioners. 

• oversight harms his pnstme probe col- corrupting contributors, candid couri- 


, lapses under two facts: 

>' First, the December revelation by 
N '-The Washington Times of the secret 


by secondhand accounts will be trans- 
fixed by the sight of a new set of venal 
politicians, relentless questioners, 
corrupting contributors, candid couri- 
ers and squirming aides — instant ce- 
lebrities in tomorrow's political folk- 
lore. Star of the production will be 


^ucwasmngion times or the secret lore. Star of the production will be 
handoff of the damning Whitewater Hillary Rodham Clinton, ungrandjur- 


file — which was also evidence of 
unlawful work by a White House offi- 
cial on private dealings — triggered 
the public’s demand that the Clintons 
■stop being the judge in their own case 
and appoint an outside investigator. 

> Second, the questioning by Senator 
“Alfonse D’Amato in a routine banking 
hearing revealed the collusion be- 
tween so-called independent regula- 
tors and White House damage con- 
trollers. Only that senatorial 
revelation, followed by media prod- 
"ding — • and not any investigation by 
■Mr. Fiske's furniture-shopping Wash- 
ington staff — provoked Mr. Fiske 
into his paroxysm of subpoenas. 

• The next use of the non-indepen- 
dent counsel in the Democrats' con- 
tainment of Whitewater will be the 
delaying tactic of an “interim report” 
White House aides are confident that 
Mr. Fiske can fend off calls for con- 
gressional hearings with the promise 
'of a quick report on the cover-up since 
‘October. (A faithless Treasury counsel 
tipped off Bernard Nnssbanm, who 
tipped off the White House cover-up 
coordinator, who tipped off the presi- 
dent —who “cannot remember" who 


ied in Mr. Fiske's opening round, 
whose handlers seek to dampen any 
future firestorms by leaking word that 
false deductions or undeclared income 
might, with civil penalties, amount to 
a piddling 540,600. Nothing indict- 
able — and therefore, Clintonites 
hope, not the stuff of bearings. 

Which should remind us: Where is the 
Internal Revenue Service in all this? 
Was the easy suborning of the Resolu- 
tion Trust Corp. matched by IRS lassi- 
tude? If that division of Mr. Clinton's 
anythin g-goes Treasury Department has 
not for years been auditing returns of 
Whitewater, Madison and the Clintons 
— and has not been referring cheating 
to prosecutors — then that agency is a 
part of the problem. 

The New York Times. 


Letters intended for publication 
should be addressed “ Letters to the 
Editor” and contain the writer's sig- 
nature, name and full address. Let- 
ters dtaidd be brief and are subject to 
editing We cannot be responsible for 
the return of unsobdted manuscripts 


-JouKifa I ■’efcSSsSK? 


TOMMY HAS*) GOTO 

PJEBOtS’ROCM.SO.JIMMv: 
COULD YOU PlEASE IAVCD1W 
SOME COVERING FIRE WHIL£ 
1 5ECURE THE PERIMETER? 





J&UL 

S®IE5 

0 


LETTERS TO THE EDITOR 


The Nation of Europe Wheels in Singapore 


Regarding "Nations Can Resolve to 
Act, but Europe Isn’t a Nation” (Opinion. 
Feb. 10) by william Pfaff: 

As much as Switzerland is a nation. 
Europe can and win be one; in fact it is 
already happening. We should be watch- 
ing and listening to our children, not to 
the old folks. This change is under way 
despite the nostalgic longings of some 
political power elites for the “good old 
days," because it is an inevitable process 
that derives its dynamics from the grass 
roots of the population. 

In a few decades. French foreign poli- 
cy will be about as important as the 
foreign policy of. say. Oregon today. 

ADOLF SPANGENBERG. 

Brussels. 

Playing the Game 

As an American, I am truly ashamed 
of the hypocrisy of U.S. officials, includ- 
ing the president (whom I wholehearted- 
ly support on most other issues) in the 
charades of the Ames spy case. 

I agree that this is a serious matter, 
but let’s be more honest than naive. Bad- 
mouthing Russia, expelling diplomats 
and threatening to cut off financial aid is 
not going to stop the Russians from 
spying on the United States — nor wiD 
tne united States quit spying on them. 
And everybody knows it! 

Let’s face reality, and admit that only 
U.S. political egos have been bruised 
because Moscow beat the Americans at 
their own game. 

CAR! VOTAVA. 

Prague. 


Regarding “ Asians, Too, Want Good 
Environment ** ( Opinion, Feb. I): 

While it is easy for Ambassador Tom- 
my Kota to extoll Singapore's “radical 
approach" in addressing the problem of 
transportation and its impact on the 
environment, he fails to point out 
certain facts. 

Singapore has created a system that 
requires all but people in the highest tax 
brackets to resort to public transporta- 
tion. There is no congestion problem 
because the very ability to own vehicles 
has been taken away from the majority 
by the elite in government. The cost of 
cars in Singapore is reportedly the high- 
est in the wend. 

People like their cars. Yet the govern- 
ment of Singapore maintains a policy of 
depriving citizens of basic rights which 
many consider inalienable. A specter of 
Big Brother rises with the talk of a sys- 
tem that allows any government to mon- 
itor the movements of a people and to 
tax them accordingly. 

J. EVERETT BLACKWORTH. 

New York. 

Hemingway: Yes and No 

Regarding “ A Moment on His Way to 
the Bullfights ” ( Meanwhile, Feb. 17) by 
Arthur Higbee: 

In the 1950s, I was the society reporter 
for the Paris edition of the New York 
Herald Tribune, which meant I wrote a 
twice-weekly column of names, names 
and more names. Almost every weekday 
at noon, 1 would take my favorite corner 
table in the Ritz bar, where I could sit 


babitu£, but he would stand up at the 
bar with his bade to the room, chatting 
with his favorite barman. Claude. One 
day I mentioned to Claude that I'd like 
to meet Hemingway. 

A few days later, I was walking 
through the Ritz lobby on my way to the 
bar, when a cloakroom attendant said, 
“Bonjour. Madame Nolan,** as always. 
A giant of a man seemed to jump out 
from behind his Herald Tribune and 
bellow my name. I was startled to see 
Hemingway come toward me like a great 
grizzly bear with half-glasses perched on 
his nose. He towered over me. 

“SO. ITS YOU. I UNDERSTAND 
YOU WANT TO INTERVIEW ME" 
(“Yes," I said.) 

“AS MUCH AS I* D LIKE TO TALK 
TO YOU, I CANT. DO YOU UN- 
DERSTAND?" (“Yes." I said.) 

“IF I GAVE YOU AN INTERVIEW 
THERFD BE A WHOLE STRING OF 
PEOPLE WANTING INTERVIEWS, 
DO YOU REALIZE THATT (“Yes." 
I said.) 

“WELL THEN YOU WONT BE 
TOO UPSET WITH ME IF I DONT 
GIVE YOU AN INTERVIEW?*' 
(“No?" 1 said.) 

He half-bowed and went back to his 
place on the couch behind his newspa- 
per. When I went into the bar, Claude 
greeted me with a big grin and asked if I 
had gotten my interview with Monsieur 
“Em-Ingue-Vey." 

“Yes and no," 1 said. 

MAGG1 NOLAN. 

Paris. 


Their Guilty Consciences 
Help the World Go Round 


By Garrison Keillor 


N EW YORK — I was in Roanoke, 
Virginia, last month and heard a 
stoiy from a truck driver about a man in 
a small town who was killed 30 years ago 
when his car was hit broadside by a 
truck in a spring thunderstorm while he 
was parked at 3 A.M. with another 
man's wife alongside the highway. 

N ews got around town that his body 
was naked in the wreckage. 

The woman, only slightly injured, 

MEANWHILE 

left town two days later on a Grey- 
hound bus. 

At the man's fuoeral, the minister 
preached a fire and brimstone sermon, 
saying that some things a man just 
can’t get away with, and a few weeks 
later tne minis ter was discovered late 
at night in the church office naked 
with his young secretary and he and 
his wife ana three children had 
to leave town. 

So did the secretaiy. 

I thought about this story as I drove 
through small towns with churches in 
them. Adultery is hard on a small 
town because it can cause sudden pop- 
ulation loss, and usually it’s the wrong 
people who get run out. 

Sinners are more important to a 
town's economy than saintly people 
are, and they are better citizens. A 
gnawing sense of guilt makes them 
more willing to serve on committees. 

The value of hypocrisy is that it lets a 
town keep sinners around without hav- 
ing to be aware of them all the lime. 
That Virginia town that lost eight resi- 
dents through two acts of adultery — a 
motel with a blind desk clerk would 
have saved them all a lot of miseiy. 

So it is no wonder that the South has 
some of the prettiest places in America, 
handsome old cities like Roanoke and 
lovely small towns where, despite Wal- 
maru there is still a Main Street and 
farms with old bams that are graceful 
and beautifully proportioned. 

These places are monuments to peo- 
ple who gave a damn, took their time 
to build well and tried to fit into the 
landscape because they had a healthy 
sense of shame. The miles of brutal 
architecture you see along freeways — 
those are the monuments to our time, 
the age of Complete Disclosure. 

In our time, the dead man’s mistress 
would have gone on “Oprah” (“Wom- 
en in Illicit Relationships That Ended 
With a Traffic-Related Fatality”) and 
the minister and the secretary would 
have stood up in front of the congre- 

E tion and declared that illicit love 
d opened their hearts to a deeper 
sense of caring, and the minister's wife 
would have sued the school of theol- 
ogy for negligence in failing to empha- 
size the Seventh Commandment. 
Nobody would leave town. 
Everybody would be too busy ex- 


plaining themselves. And the town 
would get uglier and uglier. 

Let's pm it this way: There are 
forms of openness that make hypocri- 
sy look awfully good, bud. 

Sinners aren't supposed to talk hon- 
estly about what led them to do what 
they did. They are supposed to feel bad 
ana work it off by restoring some Vic- 
torian storefronts, coaching kid base- 
ball and serving on the city counciL 

That's what makes America great. 

A city like Roanoke ("The Star 
City") with its handsome old market 
district full of bookstores, bars, an- 
tique stores and slow food joints is not 
built by running people out of town. 

I went to a Kiwams Club luncheon 
in an old hotel downtown, the ball- 
room full of people who stood and 
sang the national anthem and saog 
it intensely. 

They recited the Pledge of Alle- 
giance and were called to order by a 
woman presides t — the Kiwanis was a 
male stronghold not so long ago — 
and the invocation was addressed to 
“the Universal Power that comforts 
and sustains us all,” so as not to 
offend the non-deists. 

Suddenly I could see a future for 
Roanoke, if it had enough people like 
the Kiwanians, hearty traditionalists 
with the wit to adapt and keep up with 
the times, people with enough holes in 
their underwear to make them careful 
crossing streets. 

The main speaker was a windbag 
from out of town, the sort who made 
you want an anesthetic, and when he 
was done I asked the man next to me if 
there were still moonshiners operating 
around Roanoke, which used to be 
famous for it. 

“You want some corn liquor. 1*11 
give you some." he said, and we went 
out to his car and he fished from the 
trunk a half-gallon glass jar full of 
dear liquid and put it m a grocery sack 
and gave it to me. 

1 offered to pay. 

“No," he said, “it wasn't given to 
me on that basis." 

I took it back to the motel and 
found that the cap on the jar leaked. 
So it was necessary for me and some 
people 1 know to drink it all that night. 

We drank it on the motel balcony, 
without ice, out of paper cups, and one 
cup seemed to lead naturally to the 
next, so I got very drunk, but in the 
morning I had no hangover, as one 
would have with legal wniskey. 

I felt guilty about that, of course, to 
have gotten smashed and suffer no pain 
afterward, and I have been going 
around quietly doing good ever since. 

If there is anything 1 can do for you. 

I hope you will let me know. 

The writer is the author, most recently, 
of “ The Book of Guys.” He contributed 
this comment to The New York Times 


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Yohji Yamamoto's kimono coat. Lacroix's ethnic patterning. 


Gaultier's Mongolian look. 


Jin Teok's Oriental damask. 


Martine Sitbon's cheongsam dress. 


MooR/TInm (cbxjn Jta Teak) 

Romeo Gigli's Persian coat 


East Influenced West All Through Season 


By Suzy Menkes 

International Herald Tribune 


P ARIS — Among the trends splat- 
tered on the international runways 
— cropped sweaters, fluffy fabrics, 
brief shorts and long coats — one 
story kept recurring: the allure of the East 
It seems symbolic that the long Paris sea- 
son for winter 1994 began and ended with 
designers from Asia. The final Friday of the 
show season was dominated by designers 
from the Pacific area, which may turn out to 
be the fashion force of the new nrifieonium. 

The East was also an inspiration for many 
of the powerful and forward-looking design- 
ers. John Galliano's capsule show took the 
Japanese obi and the kimono as the basis for 
a polished and provocative collection. Jean- 
Paul Gaultier trawled the most far-flung 
countries from Mongolia to Tibet and — 
like many other designers — made brocade 
fabrics with an Oriental sheen and pattern an 
important part of his show. 

Even Martine Sitbon, who dedicated most 
of her collection to Lolitaresque schoolgirls, 
used Chinese damasks and the cheongsam 
wrapped neck for the evening styles in her 
show. 

Yohji Yamamoto, who has been showing 
in Paris for more than a decade, explored the 
roots of his own Japanese culture for the fall 
season. He used the sloping shoulders, the 
flared sleeves and the soft tie wrap of die 


kimono for graceful winter coats, some even 
decorated with the symbols, patterns and 
brilliant colors of actual kimonos. 

The influence of the East is partly the result 
of fashion's focus on polyglot ethnic cultures. 
Romeo GigE, Christian Lacroix and Rifat 
Ozbek continued to dip into the cultural melt- 
ing pot, with GigE focusing on a Persian 
theme, Ozbek on Turkey and Lacroix jetting 
from Scandinavia to China with Nordic 
sweaters, damask silks and ltimooo coats. 

While Japanese designers, including 
Comme des Gargons, Issey Miyake and Ya- 
mamoto, have made genuinely creative con- 
tributions to fashion, the rest of Asa has 
seemed to be following (not to say copying) 
Western style. But the arrival of two mature 
and influential South Korean designers on 
the Paris scene suggests that there is a way 
for Asians to nurture their roots. 

Lee Young Hee, the daughter of a South 
Korean seamstress, started hcrdeagn career 
in 1976 by offering new interpretations of 
the hanbok, the traditional Korean dress. 

The show Lee Young Hee sent out Friday 
was a graceful marriage of East and West: 
the kimono- wrap coat, made with a high 
waist, padded or trimmed with rabbit and 
Mongolian lamb: elongated vests layered 
over long skirts, using discreetly patterned 
damask sifts or more dramatic tie-dye pat- 
terns; fluffy cropped sweaters with the full- 
skirted hanhnlcs made in silk organza. 

Jin Teok. also from South Korea, used the 
most delicate of damasks, with spiky flowers 


contained within a medallion or cameo. The 
shiny fabrics were made into narrow pants, 
or long dresses and coats, often higb-waisted 
and perhaps wrapped with ribbons undo- the 
bast. Knitwear also made a strong statement, 
especially the fluffy mohairs that are this 
season's story. The designer played with the 
bare midriff — but in an Oriental way, 
reducing it to a slit of flesh at the back rather 

married^damask, velvet axid^oa^£ffon 
was findy wrought, and so were the tiny pin- 
tncks on a feminine white shirt 
Perennial fuss is made about hemline 
lengths at the Paris shows. The news this 
season was the way that short skirts were 
refreshed with A-line shapes and kilt pleats, 
or by showing flared shorts. The near-ankle- 
length coat goes not just with a rmcro-mim- 
slrirt but with wide, soft pants — the newest 
either rising high at the waist or low-slung 
hipsters, with very wide legs and cuffs. 


N EXT winter will be a big season 
for small knits. What the 
cropped, bare- midriff sweater 
laces in length, it makes op form 
the depth of its pile. Mohair, angora and 
anything fluffy is the look. The alternative is 
the revival of the Shetland sweater, last seen 
in the 1960s. 

Since no one strong silhouette emerged, 
the focus was rather on fabrics. Boiled wool 
thick and felted, was the big trend, with 
mohair, blanket and plaid checks important 


The most memorable shows were those 
that seemed to express a ret u rn to elegance 
and polished style — in a modem way. If you 
discounted tire models flashing bared breasts 
(not to mention a fake-fur G-string), Vi- 
vienne Westwood’s tailored riding coats sug- 
gested that sophisticated elegance. So did 
Galliano's quiet poetic show with careful 
attention paid to hair and makeup. 

The season dosed on Friday with a show 
that was significant for expressing calm and 
restraint among a crowd of groupies who wore 
fishnet tights and stilettos (mat was a guy) and 
darts made of wrapping a fringed blanket 
round the hips (that was often a guy took 

Gffles Rosier is a former assistant of Jean- 
Paid Gaultier, but be does not go for fashion 
on the wild side. Out came models in impec- 
cably cut clothes, with Rosier even inventing 
an all-in-one garment that had a neat bodice 
and wide pants, often with a different mate- 
rial inserted on the inside of the wide legs. 

Rosier played with fabrics — Harris tweed 
lighted with raindrop sparkles, Burberry- 
style checks for a simple tunic and pants. 
And he showed an exquisite sense of color 
when a Shetland sweater came out in leaf 
green with a bay leaf-green patterned velvet 
skill 

It was not wild and wacky but fresh, young 
and wearable. It also had grace and feminini- 
ty — words that fashion junked 25 years ago 
in the West. Maybe that is what designers 
can reclaim from the traditional elegance of 
the East. 


BOOKS 


THE HOUSE THAT 
ROONE BUILT: The Inside 
Story of ABC News 

By Marc Gunther. 381 pages. 
S 23.93. Little, Brawn. 


WHAT THEY RE READING 


Reviewed by 
Jonathan Yardley 


T HIS study of the inner work- 
ings of ABC News — a study 
that is exhaustive, encyclopedic ana 
implacably earnest — in the end 
raises, however inadvertently, the 
question: Who cares? It is true that 
in the past the book industry has 
been surprised by the commercial 
success of inside peeks at journalis- 
tic institutions, notably Gay Talese’s 
“The Kingdom and the Power’’ and 
Brendan Gill’s “Here at The New 
Yorker," but whether there will be 
comparable interest in ABC is at 


• Richard Gardner, U.S. am- 
bassador to Spain, is reading - The 
Buried Mirror Reflections on Spam 
and the New World* by Carlos Fu- 
entes. 

“I was given this superbly writ- 
ten and beautifully illustrated book 
for my new diplomatic assignment. 
It is die best possible introduction 
to the rich history and culture of 
Spain — and to Spam’s enduring 
influence on Latin America." 

(At Goodman, IHT) 



to office politics and inside baseball : 
Who’s on first? 

This is because in high-stakes 
television, insiders spend at least as 


modi time elbowing for position 
and stabbing each other ii 


least problematical; the reason is 
ivhile Marc < 


that while Marc Gunther supplies a 
modest amount of gossip about the 
stars in the wide world of ABC his 
book is mostly about little-known 
people who work behind the scenes. 

There’s a reason for that: Those 


people are the engines who run the 
great machines of ate-20ih-century 
group journalism. Newspaper read- 
ers may know the bylines of report- 
ers and columnists, but editors keep 
the paper running. ^Television 

respondents and armchair pundits, 
but producers keep the show on the 
air. The work these people do is 
essential but rather short in the 
glamour department; that it could 
be of much interest outside then- 
business seems highly improbable. 


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StiH readers coming to “The 
House That Roane Buflr should be 
warned that though there's a modest 
amount of thin juice therein about 
Barbara Wallers, Peter Jennings. 
Ted Koppd, Diane Sawyer, San 
Donaldson, David Brinkley and 
others of their glittery Ok. there's a 
lot more about the likes of Av Wes- 
tin, Dan Burke, Joanna Bistany, 
Paul Friedman, Did: Wald, Ride 
Ka plan. Jeff Gialnick, Steve Wds- 
wasser and, above all others, the 
eponymous Roone Ariedge. Though 
a certain amount of the space so 
sedulously devoted to that doings is 
concerned with questions of news 
policy and — if the word may be 
permitted in these circumstances — 
philosophy, far more of it is allotted 


-in the back 
as people do in, say, high-stakes 
newspapers. How they practice 
these endeavors is a matter of end- 
less fascination to Gunther, who 
records every up and down, every 
in and out, with the solemn fidelity 
of a monk transcribing holy writ. 

In the jungle that is ABC News, 
one beast roars louder than alL 
This is Roone Pinckney Arlcdgc 
Jr, who during the 1960s and 1970s 
made ABC Sports into a video jug- 
gernaut and who since 1977 has 
been applying his singular talents 
not merely to ABC News but, by 
example, to aU of broadcast jour- 
nalism. Even in Gunther’s admir- 
ing and sympathetic portrait, Ar- 
iedge emerges as someone with 
whom no one in full possession of 
his or her faculties would care to 
spend a soda! hour — his charm, 
such as it may be. is dwarfed by a 
puerile ego the bulk of which an 
industrial scale could not measure 
— but he also emerges as someone 
who knows exactly what he wants 
and has been able to achieve it. 

From bis first day at ABC Sports 
through last night at ABC News, 
Ariedge's vision has not wavered. Of 


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in France 

& The American University of Paris 
present 


Seminar on 


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conducted by professors 

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his pioneering efforts in sports 
broadcasting, Gunther writes. “The 
game was just (he starting point It 
was the show that counted." Or, as 
Ariedge himself wrote in a memo 
more than three decades ago, “In 
short — we are going to add show 
business to sports!" That is precisely 
what be did. 

There's no business like news 
business, which is why ABC turned 
to Ariedge when it decided to 
ratchet up its operation 

What is served up five nights a 
week on “ABC World News" and 
"Nightline" is one thing, and what’s 
broadcast on “20/20" and "Prime- 
Tune Live" is quite another. All 
these programs feature the splashy 
visuals and emotive music that are 
trademarks of the Ariedge style, but 
the first two are reasonably serious 
efforts at authoritative news cover- 
age; the second two, like all the 
imitations they’ve engendered else- 
where, are "shaped by entertain- 
ment values that [bear] scant rela- 
tion to the traditional news 
judgments that had once guided de- 
cisions about which stories to left” 

Gunther seems uncertain whether 
to deplete or applaud this. As a 
veteran newspaper reporter (for the 
Detroit Free Press) be respects the 
aforementioned “traditional news 
judgments," but he also is dazzled 
by all those ABC stars. Though be 
knows that the ascendancy of Ar- 
iedge marks a radical departure in 
the way news is collected and deliv- 
ered, he tends to lose sight of the big 
picture as be becomes infatuated 
with the petty details of internal 
bickering. Given that ABC News 
sounds Eke a positively dreadful 
place in which to work, this is per- 
haps exactly what it deserves, but 
the reader will be forgiven for wish- 
ing that Gunther had focused a bit 


Interiors: The Wright Stuff 


By Rita Rdf 

New York Tines Service 


N EW YORK — Frank 
Lbyd Wright loved a 
party — especially if 
he was the focus. So 
he would probably cheer the cav- 
alcade of exhibitions, lectures, 
symposiums and films under way 
in New York City, an unprece- 
dented celebration of his work 
that has been sparked by the land- 
mark retrospective “Frank Lloyd 
Wright: Architect," at the Muse- 
um of Modem Art. 

Complementing the museum’s 
show of 500 items — mostly 
drawings and photographs of 
Wright buSdings — are two 
smaller exhibitions: “The Deco- 
rative Arts of Frank Lloyd 
Wright,” at the Metropolitan 
Museum of Art through Sept. 4, 
and “The Art of Frank Lloyd 
Wright," at the Barry Friedman 
gallery through May 7. Both 
span the architect's career from 
the 1890s to the 1950s, and each 
includes unexpected surprises. 

“Wright orchestrated aH as- 
pects of architecture," says Cath- 
erine Hoover Voorsanger, the as- 
sistant curator of American 
decorative aits, who organized 
the Metropolitan's show. 

Tbe75 items, which are on view 
in the Henry Luce Center of the 
American Wing, indude furniture 
in both wood and metal, stained- 
glass windows, porcelain dinner- 
ware, textiles, glass blocks and 
copper vases. On the Door below 
is one of the museum's prizes: 
Wright's sprawling Irving room, 
complete from floor to ceding, 
including all the fu rnishing s , from 

the 1914 Francis W. Little bouse 
in Wayzata, Minnesota. 

The architect's concern with 
detail is viable everywhere in the 
museum displays. A table for 
storing prints from the Little 
bouse reveals Wright’s fascina- 
tion with the T-square in his use 
of contrasting wood elements of 
vertical spindles and horizontal 
banding. A more complex inter- 
of angles is seen on the sur- 
of a cement block that 



Cement wall block. 


Wright used for a wall of a Los 
Angeles house in 1923. 

Less well-known are Wright's 
dear glass bkxks from 1897. He 
conceived them far mass produc- 
tion 25 years before other archi- 
tects employed them to admit 
more light while screening interi- 
ors Erxxn outride view. The Wright 
blocks — which are ribbed on one 
ride and patterned on the other 
with a flower-like image of 
squares, circles and ovals — re- 
flect his love erf gothic imagery. 

Wright’s tendency to alter his 


Although the two at the muse- 
um have similar angled bade pan- 
els that extend from (he headrest 
to the floor, the back posts are of 
different heights and thicknesses. 

“He never stopped changing a 
design,” says Scott Elliott, the 
founder of the Kehnscott Gal- 
lery in Chicago who helped orga- 
nize the Friedman gallery show. 

The 85 items on view there 
indude furniture, books, photo- 
graphs, drawings and examples 
of dinnerware. Among the slab- 
back chairs are one from 
Wright's studio in Oak Park, Illi- 
nois, upholstered in horsehair in- 
stead of the usual leather, and 
four child-sized ones from the 
1912 Avery Coonley Playhouse 
in Riverside, Illinois. 


designs from one job to the next 
diffe 


— or even in different parts of 
the same room — is seen m many 
works in the show. He never 
stopped fiddling with the designs 
of stained-glass windows, the 
frames of chairs or the patterns 
on architectural elements. 

The Metropolitan has on view 
two versions of the slab-backed 
wooden chair he designed in 
1904 for the Larkin Building in 
Buffalo; the slanted back antici- 
pated Genit Rietvdd's so-called 
red-blue chair of 1918. 



1908 armchair. 


T HE square cutouts on 
the Coonley chairs are 
too small for a tod- 
dler’s fingers to push 
through but large enough for the 
rawhide tassels that secured bad: 
pillows. One of a pair of arm- 
chairs from the 1908 Gilmore 
house in Madison, Wisconsin, 
has vertical slats; its mate's are 

horizontal. 

Always a design pioneer, 
Wright modernized medieval 
stained-glass windows by replac- 
ing figural motifs with abstract 
and geometric images and leav- 
ing most of the glass undecorat- 
ed. After 1900, he also replaced 
the lead carries — the metal strips 
used to fasten the glass in place 
— with zinc ones, to achieve 

sharper angles in the metalwork 
and eliminate the support bars 
necessary on leaded windows. 

His Coonley windows are tbe 
glorious result, each a colorful 
play of rectangles, squares and 
circles — Wright’s vision of a 
parade of balloons, flags and 
confetti. Although the single 
window at Friedman is not for 
sale, most other pieces at the gal- 
lery are, ranging in price from 
$450 for a brick from Wright’s 
Imperial Hotel in Tokyo to 
$850,000 for a table lamp with a 
stained-glass shade. 


CHESS 


more on the serious questions raised 
these people. 


by the antics of all 


Jonathon Yardley is on the staff of 
The Washington Post. 


SPRING SUMMER 
COLLECTION 


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For orders 

FAX: (1) 42 84 24 15 


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By Robert Byrne 

P ETER LEKO faced Ivan Mor- 
ovic in the Hoogoven Grand- 
master A International Tourna- 
ment. There are two immediate 
advantages to the Rkhter-Rauzer 
Attack of tbe Sicilian Defease, with 
6 Bg5: Blade cannot bead for a 
Dragon Variation with 6...g6?! 
without getting fractured pawns af- 
ter 7 Bf6 ef; and 7._e57! gives 
White a stranglehold on the light 
squares in the centre after 7 Nf5. 

On 9... O-O, White should not 
become greedy with 10 Bf6 Bf6! 1 1 
Qd6 because after 1 1_Qa5 12 Rd3 
Rd8 13 Qa3 Qa3 I4Rd8Bd8 15 ba 
a6, the doubled extra pawn is not 
worth much whereas tbe black 
bishop-pair can become a strong 
weapon in tbe endgame. 

Morovic could not take advan- 
tage of Leko’s 15_3c6 by 16ef? 
because 16_.Rd4 17 fg Kg8 18 gf 
Kf8 19 Be7 Ke7 leaves White with 
only rook-plus-knight for tbe black 
queen. 

After 21 Bf4, Morovic threat- 
ened 22 Rg3 and 23 Qg4 to force 
23_g6 when 24 Bg6! annihila tes 
the defense Leko. however, saw the 
danger and fought for terrain with 

21._f5!?22ef <22 Rg6 Be8!?23 Re6 
Qc8 24 Rd6 Bd6 25 ed Qc5 yields 
Black a playable defense) Nf6. 

On 23 Rg5!. Leko could not grab 
the rook with 23...hg7 because 24 
hg Kg8 25 Qe6 RI7 26 g6 Be8 27 
Bo4 is crashing. 




! adapt 1 ; 


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LEKO/BLACK 



but after 29_.Qe7 30 Be5 Qg5 31 a3 
Kh7 32 Bd6 Rd8 33 Qe6 Qg6 34 . 
Qg6 Kg6 35 Be5 Rd3. Leko had a * 
very strong two-bisbop ending. 




Morovic could not save his g2 


pawn because 36 Rgl fails against 
i2 Rd2 37i 




-_ . _ 


36_Be3 and 36 Rh2 

38 Bh2 fails against 38 K; 


Rh2 


"■* : E s.^ 


On 43_3g5, no annoyance 
possible with 44 Ne8 bee 


was 
because 

44...KH! 45 NgT? lets tbe knigh t be 
trapped after 45._Bf3! 46 ! 

47 Kb3 Bh6. 


fee • i 
MOnOMOWHTTE 

Position after 24 Bc7 


After 53._Kh3. Morovic gave up 
the hopeless game. 


SICILIAN DEFENSE 



Wbke 


Af ter 24 Bc7, Leko found an ef- 
fective way to counterattack, a sac- 
rifice of rook for bishop with 
24._Rd3! Now Morovic should 
have run for a draw with 25 Qd3 hg 
26 hg KgS 27 gf Rf6 (27_.Bf6? 28 
Bd6j 28 Qh7 K17 29 Qh5 Kf8 30 
Qb8 KT7. Leko would not have 
been able to avoid perpetual check 
with 29._Rg6 because 30 Rfl Bf6 31 
Rf4 Qe7 32 Rg4 8g5 33 Bf4 wins 
for White. 


1 M 

2 MS 

3 44 

4 NfM 

5 Nc3 


But Morovic wrongly thought to 
win. After 25 cd hg 26 hg Nh7, he 
could not play 27 Qh5 because 
27_.Bg5! 28 Qg5 Rfl! wins at once. 
He did indeed recover his piece 
with 27 g6 Bg5 28 Kbl Bb6 29 gh. 


io’S* 
rr Be* 

12 M3 

S2 3 

15 fe 

16 Qe3 

17 JH 
IS 0(3 
U 803 
29Rg4 

21 Bft 

22 el 

23 R«S 

24 Be? 

25 cd 

53 


Black 

Leko 

cS 

OS 

cd 

NIB 

NcS 

eS 

Be? 

N04 

frO 


KhS 

de 

Bed 

NbS 


M 


NIB 


& 

ft? 


White 
Mamie 
28 Kbl 

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Page 9 







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Adapting French Education 
To the World Marketplace 


ranee today faces 
the same chal- 
lenges and prob- 
lems as other ad- 
vanced Western economies. 
These include the accelerat- 
ing pace of market change, 
the flattening of corporate 
hierarchies, and the prob- 
lems of recession and high 
unemployment 
In addressing such issues, 
the country is having to 
make special efforts to adapt 
its local business-education 
and management-develop- 

Now, training 
must be 
cross-sectoral 


ment techniques. This situa- 
tion arises in part from a 
long tradition of elitist high- 
er education that placed 
more emphasis on early se- 
lection than on subsequent 
performance. In addition, 
French business generally 
has been slow to accept the 
need for iotemal develop- 
ment of human resources 
within companies. 

“In a sense, business 
schools in France have be- 
come victims of their own 
success over the last 30 
years,” comments Bruno 
Dufour, president of the 
Groupe ESC-Lyon. the 
Lyon graduate school' of 
business. “What is needed 
today is a broad emphasis on * 
effective executive behav- 
ior, rather than the tradition- 
al teaching of narrow sec- 
toral techniques." 

These trends also affect 
the way businesses approach 
internal management train- 
ing. “Until the late 1980s, no 
one much thought there was 
any need to provide educa- 
tion for upper-level execu- 
tives," says Jean-Fran^ois 


Millat, deputy manager of 
the Education and Training 
Department at Electricitd de 
France in Paris. “We are 
now taking a very different 
line. This includes the cre- 
ation of our own manage- 
ment institute, which aims at 
fostering a broader cultural 
approach to management is- 
sues, going beyond simple 
technical expertise." 

In recent years, French 
companies have recruited an 
average of 70 percent of 
their new executives from 
outside their own corpora- 
tions. This has been accom- 
panied by - and has encour- 
aged - the rapid develop- 
ment of business-oriented 
higher education and 
schools offering business 
degrees and diplomas. 

During the last couple of 
years, however, the reces- 
sion has given additional im- 
petus to a more recent trend 
toward recruiting new man- 
agers through internal pro- 
motion. This movement has 
been accompanied and ac- 
celerated by reductions in 
staff, the drastic slimming of 
intermediate levels of man- 
agement and the empower- 
ment of lower levels in the 
corporate hierarchy with the 
goal of developing the “total 
quality" concept 

Such trends are producing 
significant consequences 
both for higher education 
arid' For management- devel- 
opment inside businesses. 
Tnere is now - for the first • 
time - an oversupply of 
young business graduates 
coming onto the market. 
Meanwhile, businesses have 
to give much more thought 
and effort to ongoing man- 
agement training that cuts 
across sectoral frontiers. 

“The currently popular 
idea that higher french edu- 
cation in the business field is 
producing nothing but un- 


employed graduates is quite 
inaccurate,” says Henri 
Tezenas du Mooted, gener- 
al manager of the HEC busi- 
ness school group, based in 
Jouy-en Josas, near Paris. 
“What is happening is that 
business graduates with 
lower-level qualifications or 
degrees awarded by less 
well-known institutions are 
experiencing greater diffi- 
culties in finding jobs," 

The task facing students 
attempting to choose the 
right school as well as em- 
ployers wishing to evaluate 
the relative merits of differ- 
ent qualifications is not 
made any easier by the com- 
plex structure of French 
higher education. Broadly 
speaking, degrees relevant 
to business may be awarded 
by three different sorts of in- 
stitutions. These are the gen- 
eral universities, the more 
prestigious grandes ecoles 
(specialized university insti- 
tutes) and the separate sys- 
tem of business schools. 

Many of France’s best- 
known business schools are 
connected in one way or an- 
other with local chambers of 
commerce and industry - 
public-sector institutions 
funded by obligatory taxes 
and subscriptions paid by lo- 
cal. businesses. The recent 
reform of the French ap- 
prenticeship tax - whieh 
provides considerable in- 
come for such schools - and 
a longer-term study into the 
role of chambers of com- 
merce launched by Business 
Minister Alain Madelin are 
likely to make French busi- 





Taking a vacation in the sun may appear simpfe^. 

It beco me s a real achiev e m en t when it means coordinating 
the financkd control of 50 v aca ti on re s orts far an 
international hotel chain. 


Afore graduates, fewer jobs: The quality of the MBA degree is often decisive in recruitment. 

ness schools much more re- 

liant on private-sector fund- „ 

ing and market forces. I « 

Michael Rowe I 


The MBA in purchasing 
& logistics strategies 

for NEW JOB OPl’ORTEMTES 


^ Sronique de 
| Chanterac is a 
| professor and 
dean of the 
Groupe ESCP, which oper- 
ates four major business-ed- 
ucation programs at the 
Ecole Sup^rieure de Com- 
merce de Paris, France's 
oldest business school. Here 
she discusses the evolution 
of French business educa- 
tion with Axel Krause, cor- 
porate editor of the Interna- 
tional Herald Tribune. 

You were recently named 
chairman of the newly 
formed Alliance of Manage- 
ment Schools in European 
Capitals. What is its goal? 

We are moving from bi- 
lateral to multilateral rela- 
tions, from cooperative ven- 
tures to strategic alliances. 
AMSEC, comprising eight 
European business schools, 
is a response to changing 
markets and the adaptation 
and mutual recognition of 
educational programs and 
degrees. 

Does it compete directly 
with the Community of Eu- 
ropean Management 
Schools, the CEMS net- 
work? 

Yes, in the sense that it 
will offer a second Euro- 
pean degree - that is, not 
the degree of any one par- 
ticipating business school, 
but of the network. Rele- 
vant European business is- 
sues are integrated into 
courses and discussions, and 


members of the business 
community regularly partici- 
pate as guest lecturers. Our 
partner in Germany is the 
Technical University of 
Berlin, which offers, for ex- 
ample. a four-year program 
in economics and business 
administration. In Belgium it 
is the Solvay Business 
School. The diploma from 
Solvay, for example, is the 
business degree of the coun- 
try, and it will be enhanced 
and recognized on a Europe- 
wide basis by being in AM- 
SEC. 

How do you react to the 
decision of some grandes 
dcoles, such as Sciences Po. 
the Institute of Political 
Studies of Paris, to offer 
MBAs? 

In general, there are too 
many institutions now offer- 
ing business-education pro- 
grams in France in a scat- 
tered manner. Some cham- 
bers of commerce, once ma- 
ture, want their own busi- 
ness schools. Many of these 
institutions are simply too 
small, not capable of educat- 
ing in a serious manner. The 
trend has become a syn- 
drome. The problem is not 
in the numbers of students 
graduated. Sciences Po is a 
unique case. The school is 
now set up to provide an ed- 
ucation for the elite, the ex- 
tremely brilliant, and so it 
was only natural that there 

Continued on page 10 


mib 


IIIIBP the international MBA at the Ecole 
National cfes Fonts et Chaussfes (founded in i 747) 

The MIB b a 13-15 month MBA programme in English at one 
of the most prestigious Grandes Ecoles In France. The MB 
culture Is international, innovative and entrepreneurial, 
fostering a strong sense of ethics and contribution through 
business. 

Global Vision: partropano choose European. American c« Pacific Bawi 
options canbnng study in Pans with programmes and professional 
experience abroad 

international Faculty: drawn from a roster of outstanding 
professionals and entrepreneur, from around me world. 

Mudticufturaf Environment 60 students represent an awwage of 25 
naoonaKie; 

E n trepreneurial Spirit each student bwlffi f»s own curttui/m fused 
Of) nc, profeanxial ofcjeofve; and me weraU frtmeworfc 

mih. Admissions. EALP.C. Graduate School flfWaretoBl 
Business. Ecole Rationale d«PotiaetChauss6es 
TH nje des SaIntsFofles. 75343 Parts Cede* 07. France 
Teh (33 f{ 44 58 28 52 ■ Fare (33 1J 40 15 93 47 





The buiitut do Ma na gement H flteW 
Intemafond (IMHQ, jointfy odmrmdered 
by Cornell LWversfry'j School of Hotel 
Administration and Groupe E5SEC 
(Fiance's preeminent school of business], 
is die recognized leader in European 
haspJtaiiiy education at the graduate 
level. 

Upon completion of fa h«J-year English- 
language program, IMH1 students 
(representing aver 20 nationalities) are 
being offered management positions in 


leading hospitably ooqxsiafiora. 

Since 3s foundation, IMHI has ochsjved 
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today, fa school's alumni lead succasM 
careen in ewer 50 courtries. 

Application So IMHI is open to candidates 
who hold a bachelor's degree or its 
aqumalent. The IMH degree is fa only 
graduate hospitality qualification 
accredited at level I (master's level) by 
France's National Commission on 
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An MBA qualification with a purchasing and logistics 
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The European Institute of Purchasing Management 
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supported by the Commission of the European community 
and several other European foundations and organisations. 
Currently working with THOMSON CSF. ALCATEL, 
ALASTHOM, PERNOD RICARD. 

Pedagogic programmes with HEC Paris, Cranfield, Boconi 
Milano. Sup Aero. 

Scholarships to qualifying students with engineering or 
business backgrounds. 

The Institute is pan of the French Geneva campus in the 
International Business Park, Archaraps, France. Situated at 



the foot of the Alps the campus is located in the most 
beautiful countryside of Europe. The campus includes an 
advanced telecommunications network and library. 



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business to make a better world 


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B.P 105 • 95021 CorgyJPonloise Cedex • France Hg 

Tel : (33.1) 34.43.31.72 • Fax : (33.1) 34.43.17.01 EBK 


EUROPE AN INSTITUTE OF PURCHASING MANAGEMENT 

PVQT International Business Park 
HW French Geneva Campos 
wr5T 74166 ARCHAMPS (Trance) 

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A unique Program design 

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Trance h. ff >n the I 

with international participants 
one! no interruption of career. 

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,i .i in mi-in-.Mif num cIuojI |X--'pu iin> i!:c CM> 

t*f. mil t i In. •<*.• j! Ii-.-.i-i - fc>- >i.iir c in or. C'ur m V 

K"i:K f.. I., mi. in I • ' r - T v. . I'l iil Jc in 

I iviiii'r. j;;J . 


Further details from : 

tji,;C t US /s-.-r-w 

r«i; r> u / \ isr- : -s 

■%.; .Ifi..-; \,^r.av lc^A'.v rrar.c .• 

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An intensive nine month 
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Beginning January 1995. 

SCIENCES PO: 

■ An international Faculty 
with a European scope. 

■ The leading School in Political Science 
and Economics in France, since its foundation 
in 1871. 

■ A unique location in the center of Paris. 

■ A limited number of students. 

Admission requirements: a university degree 
and three years of work experience. 

For further information, please contact: 
Professor Jean-Jacques Rosa, MBA Director. 

(Applications are due June 30, 1 994) 

JNSTITUT D’ETUDES P0L1T1QUES DE PARIS _ 
174, bd Saint-Germain 75006 PARIS 
ra (33) 1.45 44 87 43 - Fax: (33) 1.45 44 88 92 **> 






Nicolas DOURASSOFF 
Bank of Neuflize, Schlumberger, Mallet 
ABN AMRO Group 
ISA MBA Class 94 
Naval Academy - ENSTA 


Bruno SOLNIK 
Professor of Finance 
PhD. MIT 

Devised the International 
Capital Asset Pricing Model 


Marie-Eve SCHAUBER 
Borland France 
General Manager 
ISA MBA Class 85 
INPG83 



INSTITUT SUPtRIEUR DES AFFAIRES 


To request a brochure and an application form, please call or fax ISA at : 

Pb : (33) I 39 67 73 82 -Fax: (33) 1 39 67 74 65 

Deadlines : February I, April 1, 1994 

Courses begin September 15 , 1994 ^ 

IAI CHAMHE DE COMMBCEFTrH 


i CHAAffiSE Dt COMhBCE FT WNOUSTBE DC PABB 



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T 


















3d 


Page 10 


ADVERTISING SECTION 




MBA Programs: 
Easy to Translate 


Continued from page 9 

should be a graduate pro- 
gram in this field. Speaking 
honestly, the grandes ecoles 
are the main competition for 
us us we seek to place our 
graduates in the job market. 

How do French universi- 
ties fare in business educa- 
tion? 

Either one finds students 
with a very general educa- 
tion, or those at the post- 
graduate level, notably at the 
doctorate level, such as the 
DESS in finance at the Uni- 
versity of Dauphine. But 
there are only 30 students in 
that program. Those coming 
out of Dauphine's manage- 
ment program are very high- 
ly regarded, but have great 
difficulty finding jobs. 

Are there not a large num- 
ber of French youths seeking 
a business education? 

There are some 60,000 
students who each year ex- 
press their intention to enroll 
in prepuratoty courses in the 
Field of business. But if you 
take the three main schools 
in Paris - HEC, ESSEC and 
ESCP - there is room for 
only 1 ,000. IF you add Lyon 
ESC. that's another 200. 


How is recruiting going 
here? 

We have about 70 compa- 
nies coming to interview 
students, including 12 new 
ones. For the most part, they 
are large companies. We en- 
courage the small and medi- 
um-sized companies to 
come,. but mainly they re- 
cruit at the regional schools 
in the provinces. Things are 
definitely picking up for us. 

How do you assess the 
roles and problems of 
women in business educa- 
tion? 

It's a question of genera- 
tions. It takes 20 years to be- 
come a CEO. We first began 
accepting women around 
1972, which means our first 
female graduates aL ESCP 
came onto the market in sig- 
nificant numbers around and 
after 1975. Women do face a 
difficult problem, but this is 
slowly disappearing as atti- 
tudes - among men - 
change. Today, about 50 
percent of our students are 
female. We do not prepare 
these graduates any differ- 
ently for job interviews. 

The Balladur government 
recently announced its in- 
tention to crack down on the 


SCHILLER 

INTERNATIONAL UNIVERSITY - PARIS 
Accredited Member ACICS 

S.I.U., established in Europe for 30 years, offers 
students an American university education. 

We are a truly international school, with 
students from over 50 different 
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■ BBA - MBA -BA - MA 

■ EXECUTIVE MBA 
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• FULL-TIME AND PART-TIME PROGRAMS 

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FOR MORE INFORMATION PLEASE CALL 
SCHILLER INTERNATIONAL UNIVERSITY i 
32, BOULEVARD DEVAUGIRARD- 75015 PARIS 2 

TEL : (33) 1.45.38.56.01 *1 



MB&.W 




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The best from Europe and America 
for your graduate studies in International Management 

M.B.A. Univanity b a graduate program of Management created 
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and deva lo pped in assadatian with leatfing U.S. Unjvanifiei. 


11 to 16 mo n ths of study 
4 in Paris, France • 7 to 1 2 in the U.S. 
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2 DIPLOMAS 

• M.BA (Master of Business Administration) 
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• Graduate c e rti fica te from MJLA. University. 


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Tel.; 33(1| 42 73 26 53 — Fax: 33 (1) 47 05 74 75 



THE AMERICAN 
MBA IN PARIS 

September to April in Paris. Summer on the 300-acre 
Hartford Campus located between New York and Boston 

A 16-course Master of Business Administration Degree 
taught by the faculty of the University of Hartford 

11 months of intensive study in English delivered for 
the ninth consecutive year by the University of Hartford 
established in 1877 - student body of 8000) 

Admission Is competitive and selective. The ambiance is 
International (over 20 nationalities per class) 

Achieve substantial career progression and personal growth 

For our full-color brochure on this challenging 
educational opportunity, contact Pamela Meade, MBA 

UNIVERSITY OF HARTFORD BUSINESS SCHOOL 

5 Jerrasse Bellini. Pans-La D&fense li. 92807 Puteaui Cede*. Franco 
Tel: 49 00 19 61 Fa*: 47 76 45 13 

actioflrtea o% inv Nc» Engrjna AvswuaiiLjn ol School*, jna 




Veronique de Chanterac: “We are moving from bilateral to 
multilateral relations , from cooperative ventures to strategic 
alliances. " 


use of English words in 
French, such as “MBA Part 
Time , " which appears in 
your current brochure. 
What is your reaction ? 

Speaking personally. I 
think this philosophy is ab- 
surd. “Weekend” is now 
standard French. In our 


E The most renowned school for French sj 

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Saint-Xavier University 

The Graham School of Management 


AMERICAN MBA IN EUROPE 


Saint Xavier University of Chicago offers 
its American accredited MBA m Paris, 
Milan and Chicago. 

• Accelerated MBA: 1 year of intensive 
study in Paris, Milan or Chicago. 

• Executive MBA: 2 years of part-time 
study. Evening and Saturday courses. 


Piazza del Carmine 2 
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Tel: (39-2) 861 647 
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20, rue de Sain t Petersbourg 
75008 Paris, France 
Tel.: (33-1) 42 93 13 87 
Fax: (33-1) 45 22 12 65 


THE INTERNATIONAL 



MBA 


AN INTENSIVE 14 MONTH GRANDE ECOLE 
PROGRAM IN PARIS. NEW YORK AND 
TOKYO WITH SEMINARS IN EASTERN 
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IS 


i\sn rursdi'CRitUR or: cosiro.v 
state: accredited decree 

r/(i/K nwiiiTiu.i • it' l\i:K Hv‘.N( I : Vi . ; vv! : A i;> Mi (Vi 


IFAM 

THE BEST WAY FOR THE M.B.A. 

Since 1982. the Institut Franco-Aroerican de Management 
(IFAM) prepares students with its 4-year program tor an MBA 
diploma from a major American university and the IFAM diploma, 
in additon to IFAM’s associate univerefflas, University ol Hartford, 
North-eastern University in Boston, Pace University in New York. 
Temple University In Philadelphia, where students study in their 
3rd or 4tri year. IFAM also maintains privileged ties with presti- 
gious American graduate schools. IFAM students, therefore, 
complete their MBA at the University of Pennsylvania (Wharton), 
University of Chicago, Indiana U.. University of Wisconsin, Duke 
U.. George Washington U.. Mac Gill U. 

In 1986. iFAM's rapid development led to (he creation of the 
program, MSA University. In association with top American busi- 
ness schools, this program offer a 1-year MBA to university 
graduates and executives. 




INSTITUT FRANCO- AMERICA1N DE MANAGEMENT 
Eiabtssement d’enseignement supertour prive. 

19, rue C6prft - 75015 Paris-Frartce. 

TG\.: 33 (1 ) 47.34.38.23 - Fax: 33 (1) 47.05.74.75 





Training for Project Management 



field, why don't we use the 
title ma it rise? Because that 
is a term strictly reserved to 
the university. We do, how- 
ever, offer another graduate 
degree here designated mas- 
tire , which isn’t very ele- 
gant, but is Frenchified. 

MR. 


s sharpening com- 
petition and bur- 
geoning intema- 

nonalization force 

France’s larger corporations 
into reorganizing along pro- 
ject-management lines, ex- 
ecutive development and 
training departments are 

25,000 management 
education operators 
in France 


hastening to get ahead of the 
trend. At the same time, 
French business schools, 
consultants and specialized 
institutions offering execu- 
tive educational services are 
lighting to grab a share of 
this promising market 

French automobile manu- 
facturer Renault provides a 
leading example. Its six-per- 
son human resources devel- 
opment unit at Boulogne- 
Billancourt handles senior 
management development 
issues. The section makes 
significant use of the 
group’s internal resources, 
though it also exploits a 
partnership arrangement 
with the CEDEP manage- 
ment center attached to the 
INSEAD business school at 
Fontainebleau. 

“A major focus of our ac- 
tivities is to develop syner- 
gies by promoting bench- 
marking type projects with 
noncorapenng corporations 
such as Aerospatiale, France 
Telecom and Rank Xerox,” 
says Renault’s deputy gen- 
eral manager for human re- 
sources development, 
Gerard Dubrulle. “Other ini- 
tiatives involve sending staff 
out for periods with busi- 
nesses that we work with, 
such as suppliers and distrib- 
utors, with a view to im- 
proving quality. In all these 
efforts, our aim is to bring 
out people's implicit knowl- 
edge and spread this 
throughout the organiza- 
tion.” 

Some French organiza- 
tions adopt a decentralized 
approach to management 
education. In the case of 
Electricity de France, 55 
percent to 60 percent of this 
activity is carried out by the 
central education and train- 
ing department The remain- 
der is handled by the region- 
al operating units, which ei- 
ther use their own resources 
or subcontract to local train- 
ing institutions. 

“One particular scheme 
we are supporting is a pro- 
ject called ‘Ing&nieur 2030/ 
organized by the Conserva- 
toire National des Arts et 
Metiers in cooperation with 
Renault. Schneider, SNEC- 


MA, Thomson. Usinor, 
Sacilor and ourselves,” says 
Jcan-Frangois Millat, deputy 
manager of the EDF educa- 
tion and training department 
“This project aims at bring- 
ing the training of future en- 
gineers closer to corporate 
practice by mixing universi- 
ty study with woikplace ex- 
perience.” In some cases, 
French management-train- 
ing services are made avail- 
able on an industry-wide ba- 
sis. The French Banking As- 
sociation, for example, pro- 
vides continuing education 
for around 90,000 bank staff 
a year and awards about 
20.000 banking diplomas 
annually. "This effort in- 
volves an annual turnover of 
around 280 million francs 
[548 million} and calls on 
the teaching services of 
some 3,000 people,” says 
Bernard Rousselet, who 
heads the AFB’s training 
section. 

Around 25,000 different 
operators provide continuing 
management education ser- 
vices of one land or another 
in France. These range from 
the largest and longest-es- 
tablished business schools, 
university institutes and big 
consultancy firms to special- 
ized organizations and indi- 
vidual consultants offering 
evening courses. 

The growing importance 
of international business in 
France is illustrated by the 
increasing number of busi- 
ness institutes that specialize 
in language teaching. Instimt 
du Francois des Affaires de 
Reims offers French busi- 
ness-language courses for 
foreign executives, while die 
Brussels-based CERAN 
Lingua provides intensive 
foreign-language courses for 
business participants in sev- 
en different languages. 
CERAN 's centers include 
establishments in Paris and 
the South of France. 

“An important part of our 
nondegree executive pro- 
gram offer is the provision 
of customer-tailored’courses 
for individual companies,” 
explains Olivier Bmel, di- 
rector of HEC Management 
at Jouy-en-Josas. “We often 
train executives of client 
companies to teach within 
their organizations. There is 
some overlap here with what 
consultancy firms do, but the 
distinction is that we are 
concerned more with long- 
term issues than with solv- 
ing an immediate day-to-day 
problem." 

One of the largest special- 
ist organizations operating 
in the French executive- 
training market is the Paris- 
based Institut Frangais de 
Gestion. Another example is 
the Centre de Perfection- 


nement aux Affaires, man- 
aged by the Paris Chamber 
of Commerce and Industry. 
This aims at preparing exec- 
utives for top management 
positions, with a particular 
emphasis on practical case 
studies and teamwork. 

“The most rapidly grow- 
ing market is that for intra- 


company courses involving 
some of the large French 
groups,” says Jean-Ffan^ois 
de Zitter, general manager of 
the IFG. ‘There is also an in- 
creasing need for manage- 
ment training coming from 
the French public and para- 
public sectors," he adds. 

MR 





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INTERNATIONAL HERALD TRIBUNE, TLTESDAY, MARCH 15, 1994 


Page 11 

ADVERTISING SECTION _ 5 


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PROGRAM- 

inascnH-ns. 



Jobs for Graduates: 

How Schools Open Doors 



S wing the reces- 
sion. from which 
France may now 
. be emerging, 
prospective employers have 
gotten used to taking a much 
more selective approach to 
executive recruitment. At 
the same time, the way cor- 
porations work has been 
changing. These develop- 
ments are giving new em- 
phasis to the role played by 
French business schools' ca- 
reer departments. 

“We used to be known as 
the placement department, 
but this was symbolically 
changed some years ago to 
the career-management ser- 
vice,” says Mary Boss, ca- 
reers director at INSEAD. 
‘This highlights the fact that 
we are not just trying to slot 
students into jobs but that 
we are helping them to plan 
their careers as well .” 

The careers service oper- 
ated by the Institut d* Etudes 
Politiques de Paris (Sci- 
ences-Po) follows similar 
principles, but it also incor- 
porates several novel fea- 
tures. “Our department is 
operated and financed joint- 
ly by the institute and by our 
graduates’ association,” says 
Dominique Andriveau, di- 
rector of Science-Po’s career 
and employment service. 
“We are also available to 


provide career advice to 
managers during the subse- 
quent course of their career 
as well as to young gradu- 
ates looking for their first 
job. An important part of our 
work is to help students ar- 
rive at a realisric assessment 
of their possibilities and to 
decide what direction they 
should take. Moreover, we 
have also always placed 
considerable emphasis on 
training students to present 
themselves in the best possi- 
ble way and to maximize 
their credibility with em- 
ployers.” 

Networks set up by 
French business-school 
graduates often play an im- 
portant support role as well. 
“We have a very powerful 
alumni network, and we 
even organize seminars here 
at INSEAD on how to make 
use of this resource as part of 
graduates’ career develop- 
ment,” says Ms. Boss. “Cur- 
rently, this network compris- 
es 13,000 INSEAD gradu- 
ates across the world.” 

Many students at French 
business schools find their 
first jobs by working with a 
company for a period of 
practical experience during 
their courses. “Forty percent 
of our students obtain their 
first job with the corporation 
they have worked with in 


this way.” says B£rang&re 
Pag&s of the HEC. 

The La Rochelle Business 
School provides a further 
example. “For our European 
bachelor degree in manage- 
ment, we try to place our 
students with companies 
outside France during the 
course. To do this, we make 
use of our linkups with 
schools in Britain, Germany 
and Spain,” says Judith 
Lambert, program director 
and head of European rela- 
tions at the La Rochelle 
school. 

The Paris-Dauphine uni- 
versity has developed a 
number of specialized work- 
experience packages, in- 
cluding a five-month period 
in information technology 
and similar arrangements 
with consulting firms, banks 
and corporate-finance de- 
partments. Other career ser- 
vices at Dauphine include an 
opportunities data base, 
training in job-application 
techniques and recruitment 
conferences on campus. 

“We act for two different 
sets of clients - the students 
on the one hand and compa- 
nies on the other,” says Ms. 
Pagfes. “In this connection, it 
is important to establish 
good contacts with foreign 
corporations. For instance, I 
have just concluded a visit to 



the United States, which in- 
volved meeting organiza- 
tions such as Bankers Trust, 
JP Morgan and Pepsi Cola. 
There is considerable inter- 
est in French business grad- 
uates who are fluent in Eng- 
lish, particularly for Ameri- 
can companies with opera- 
tions in Brussels.” 


Although jobs for busi- 
ness graduates in France are 
now thinner on the ground, 
starting salaries can still be 
impressive. 

ISA indicates that starting 
salaries for its 1993 class 
ranged from 230,000 francs 
to 800,000 francs ($40,000 
to $138,000) 


ESC Lyon estimates that 
the 1993 average for its 
graduates will be some- 
where between 170,000 
francs and 190,000 francs. 
The school's careers office 
also reckons that job offers 
are now starting to pick up 
again. 

MJL 


Why France? The Benefits of a Gallic Education 


tudents looking 
for a business 
education in Eu- 
rope that will 
give them an international 
perspective can choose be- 
tween major schools in sev- 
eral different countries. 
Against this background, 
France offers a number of 
attractive features. 

Politically and geographi- 
cally, France occupies a cen- 
tral position in the European 
Union. Students can choose 
from a wide variety of 
French institutions aimed at 
local, national and regional 
markets. Although the fine 
distinctions of the French 
educational system often re- 
main opaque to foreign em- 
ployers, the country now of- 
fers several well-respected 
MBA products that are rec- 
ognized internationally. 

“Most of the English- 
speaking students who at- 
tended tiie MBA course with 
me had chosen a French in- 
stitution because they want- 
ed to work in France,” says 
Richard Woods, who gradu- 
ated last year from ISA, part 
of the HEC group at Jouy- 
en-Josas. He is now em- 
ployed as an industrial con- 
sulting specialist by Peat 
Marwick in Paris. 

Prospective employers 
from English-speaking na- 
tions often place a premium 
on the French-language 
skills acquired by interna- 
tional students who choose 
to study in France. For in- 
stance, a recent American 
graduate of Sciences-Po (In- 
stitut d’ Etudes Politiques de 
Paris) was interviewed by an 
American corporation that 
wanted to set up a European 
subsidiary. The corporation 
said it was not impressed by 
the MBA label, but it was 
very interested in the fact 
that the course had been 
conducted in French. 


INSEAD, based in university now has a total of 
Fontainebleau near Paris, is some 6,400 students, and it 
one of France's best-known specializes in management 
management-education in- and related economic and 
statutes. Founded in 1959 as technical subjects. It pre- 
a private institution spon- pares both undergraduate 
sored by the corporate sec- and graduate students for the 
tor, INSEAD aimed from traditional French university 
die start at dispensing wbol- degrees but adopts a nontra- 
ly international management ditional teaching approach 
teaching. Most courses are based on work in small 
conducted in English, and groups, buttressed by selec- 
17 percent of the Institute’s live entry requirements. 
MBA students are French. “Currently, we have 762 

INSEAD’ s international foreign students who chose 
ambitions sometimes pro- Paris-Dauphine on an indi- 
voke a rather prickly reac- vidual basis and around 70 
tion from France’s more tra- to 80 who have come here 
ditional management cen- on exchange programs with 
ters. “In contrast to IN- institutions in other coun- 
SEAD, we offer products tries,” says Veronique Trax, 
that are closer to die daily re- who runs the university’s in- 
alities of French manage- temational relations depart- 
ment practice,” says raenL 

B6rang6re Pagfes, director of 

the HEC Group's career ad- 

visory service. In addition to T The Reims 

its MBA programs, which |TU?AB France Is y 

include the ISA international lL/liUA France am 

MBA, die HEC Group also Ouraim is to help introduce y 

provides undergraduate with the right approach. Our » 
courses for younger French - Mo dak b teaming the particularities 
management students. -Ifedate ft rales and custom of am! 

The existence of network 
links with foreign business " 

Schools IS also an important jdFAR, 19, rneCfemenfr* 

element influencing student Phone: (33) 26 82 92 

choice. The Paris-Dauphine (IDFAR is sponsored by RomsUn 
university furnishes one ex- ^ 
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Though it started later 
than countries such as 
Britain and the United 
States, France is also now 
offering a growing range of 
executive and part-time 
business degree courses. 
These provide additional 
flexibility for executives 
who wish to improve their 
career chances without leav- 
ing their current employ- 
ment as well as for compa- 
nies keen on making the best 
use of promising staff. 

One example of such a 
course is the executive mas- 
ters degree program in man- 
agement sponsored jointly 
by the Rouen Graduate 
School of Management 
(ESC Rouen) and the Kran- 
nert Graduate School of 
Management at Purdue Uni- 


versity in the United States. 
Instructional sessions are 
concentrated into a series of 
six two-week intensive resi- 
dential stays scheduled over 
a period of about 22 months. 
Half of these are held in 
Rouen and the other half at 
Purdue. The aim is to draw 
participants not only from 
the United States and Eu- 
rope but also from Asia, 
Africa and South America. 

. As the attractions of 
France as a place to do busi- 
ness in Europe increase, the 
number of international and 
specialist institutions offer- 


ing business courses is also 
growing. One example is the 
European Institute of Pur- 
chasing Management, locat- 
ed in the International Busi- 
ness Park in Archamps near 
Geneva, on the French side 
of the border with Switzer- 
land. “The E3PM is the first 
center in Europe to offer a 
full-time, 12-month MBA 
program in modular form 
and a part-time executive 
MBA in modular form, de- 
signed to suit the needs of 
working executives," says 
EIPM’s general director, 
Bernard Gracia. M.R. 


K The Reims Institute for Business in 

France is your partner if you deal with 
France and the French market; 

Our aim is to help introduce your executives to French business 
with the right approach- Our weekly courses include: 

- Modnk b learning the particularities of business in France, and ta rules. 

- Modale Ds rnles and customs of contracting in France (to prospect sell or buy in 
Fiance). 

- Module FAR: to know the peculiarities of your business sector In Fiance. 

Further information avaMtteal 

IDFAR, 19, me CKment-Ader, 51 100 REIMS - FRANCE. 
Phone: (33) 26 82 92 74 Fa* (33) 26 82 92 75 
(IDFAR is sponsored by Reims University, Reims and Epemay's Chamber 
Of Trade and Industry, The TomhaH of Reims. The R ectorat of Reims . 

Academy, the Union Palronate of the Marne dpi anil CHAMPFOR.) ^ 



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THESEUS MBA; BREAKING NEW GROUND IN MANAGEMENT EDUCATION 

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CHAMBRE DE COMMERCE El D1NDUSTRE DE RM3S 


Business Schools 


ccording to sta- 
tistics produced 
by the French ed- 
ucation ministry, 
the total number of business 
schools in France rose from 
84 in 1981 to 290 in 1992. 

Now, these numbers could 
shrink. 

“French business schools 
are too small,” says Bruno 
Dufour, president of the 
Groupe ESC Lyon. “You 
need to have at least 1 00 fac- 
ulty members to operate 
transnational- 

ly, and com- """"" 

Competing 

institutions to 

back up their JOT the 

efforts. What 

is required is nondegree 

a project to 

bring about market 

greater net- 
working and 
pooling of re- 
sources 

among French schools. This 
is no easy matter when you 
consider all the local rival- 
ries and personalities in- 
volved, but it is an essential 
step.” 

Against this background, 
France’s business schools 
and institutes of higher edu- 
cation are competing to pro- 
vide undergraduate and 
graduate business degree 
courses as well as catering to 
the lucrative nondegree ex- 
ecutive market. Schools 
linked to chambers of com- 
merce rather than public uni- 
versity institutions have 
played the biggest role in 
this area. This picture is 
changing, though. 

“Over the past 15 years or 
so, the universities and the 
grandes tcoles have made 
great efforts to become more 
flexible and to get closer to 
business,” says Henri 
Tezenas de Montcel, general 
manager of the HEC at 


Jouy-en-Josas. For instance, 
the Paris-based Institut d'E- 
tudes Politiques de Paris has 
recently entered the MBA 
market, while the equally fa- 
mous Ponts-et-Chaussees 
grande ecole for top engi- 
neers offers a similar pro- 
gram. 

At the same time, a grow- 
ing number of foreign insti- 
tutions - particularly from 
the United States - are set- 
ting up branches in France. 
One example is the Franco- 
American Insti- 
tute of Manage- 
• 0 ment, which of- 

fers a program 
called MBA Ltai- 
€ versity. “Our 

course gives stu- 
ree dents an opportu- 

nity to study in 
,* both France and 

the United States, 
— and it produces 
bilingual or even 
trilingual gradu- 
ates.” explains Associate 
Dean Michel Lemieux. An- 
other example is the Ameri- 
can Lfniversity of Paris, 
which offers full- and part- 
time programs that include 
business, international mar- 
keting and international 
business law courses. 

“Business schools are fac- 
ing difficult times. The most 
obvious consequence is a 
drop in full-time applicants 
and a significant increase in 
those for part-time or dis- 
tance-learning programs.” 
says Eric Briys, dean of the 
Institut Suplrieur des Af- 
faires at Jouy-en-Josas. 

Mr. Briys suggests a novel 
risk-sharing formula to 
make full-time programs 
more attractive to students. 
This could involve reduc- 
tions in fees, soft bank loans 
and employer contributions 
toward fees, linked to stu- 
dents’ examination perfor- 
mance. M.R. 


LYTERM.VnON.il. 


i nc mw took nun amt hi aimnm i 


If you would like fo receive further 
information on any of the advertisers who 
appeared in this Special Section, simply 
complete the coupon below and send it 
to: 

BROOKE PILLEY, 
Advertising Department, 

181, Avenue Charles de Gaulle, 
92521 Nenilly Cedex, France. 


1. American Business School 


Tide box 

□ 


2. American University of Paris □ 

3. Centre de Perfectioimement des Affaires □ 

4. Cenan □ 

5. ESSEC - Institut de Management Hotelier □ 

6. Ecole Superieure de Commerce de Paris □ 

7. Ecole Superieure de Commerce de Rouen □ 

8. Ecole Superieure de Publicite □ 

9. European Institute of Purchasing Management □ 

10. HEC -ISA □ 

11. IDFAR □ 

12. IFAM □ 

13. ISG - Institut Superieur de Gestion □ 

14. Institut de Frames □ 

15. MBA University □ 

16. Ecole Natianale des Ponts et Chaussees □ 

17. Saint-Xavier University □ 

18. Schiller □ 

19. Science Po □ 

20. Theseus Cl 

21. Universale Paris Sorfaonne □ 

22. University of Hartford □ 

23. Uraveraty of Southern Europe □ 










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1994 1993 


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12152 

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128J1 

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THE TRIB INDEX - 114 03 l§ 

SE8EBSSg»s=M 


M ON 
1994 1993 


The Max tracks US. doBar values of stocks to Tokyo, Now York, London, and 
AigonUno, Australia. Austria. Belgium. Brad, Canada, Cilia, Danmark. Hntand, 
France, Germany, Hong Kong, Italy, Mexico, Nathartands. Now Zealand, Norway, 
Singapore, Spain, Sweden, Switzerland and Venezuela. Fm Tokyo. New York and 
London, the index is composed of the 20 top issues In terms of marital capitalization, 
otherwise the ten top stocks are backed. 


International Herald Tribune, Tuesday, March 15, 1994 




. *„<* • 

- 


Page 13 


GE Bids $ 2.1 Billion for Kemper 

Financial Firm Is Asked to Reconsider Rejection 


Compiled by Our Staff From Dispatches 

NEW YORK - General Electric Co., 
seeking to reinforce its profitable financial 
services business, said Monday that its GE 
Capital unit had proposed to buy Kemper 
Coip. for S2.1 billion in cash. 

GE said it had made the offer, worth SSS a 
share, on March 2 and that Kemper, an 
insurance and securities firm based in Long 
Grove, Illinois, had responded March 4 that 
the company was not for sale. 

Nevertheless, Kemper said it would bring 
the matter to its board at its meeting later this 
month. Is a letter Monday, GE Capital said it 
had repeated its proposal and asked Kemper 
management and board to reconsider its ear- 
lier decision. 

GE said it would further raise its bid if, 
after a review of Kemper’s real estate portfo- 
lio, “It is appropriate.” 

GE announced the offer after the close of 
trading on the New York Stock Exchange. 
Kemper’s shares, which ended NYSE trading 
unchanged at $40,875, jumped $16,125 to $57 
in after-hours trading. 

GE Capita] said that Kemper would be its 
'‘flagship" in its asset-management business, 
allowing the company to consolidate other 
GE/GE Capital activity with Kemper’s exist- 
ing operations. GE already owns the Wall 


Street brokerage house Kidder Peabody & 
Co., and financial services have been among 
the strongest performing divisions for GE in 
recall quarters. 

GE Capital’s most recent sizable deal was 
the rescue in November of GPA Group, the 
Ireland-based aircraft leasing company. 


The offer is pitched at 
$55 a share, at least; 
Kemper’s stock 
rocketed more than $16 a 
share to $57 in after- 
hours trading. 


through a S1.35 billion purchase of planes 
already leased by GPA to airlines. 

On Monday, GE Capital also said it would 
strengthen Kemper and its insurance opera- 
tions by transferring certain problem real 
estate assets to parts of GE Capital. 

“This would free the Kemper organization 


to concentrate its full atcendon to growing its 
insurance, brokerage and asset managemen t 
businesses nationally and internationally." 
GE Capital said. 

“We believe that there are dear and com- 
pelling advantages from the combination of 
our two companies and (hat such a transac- 
tion would create a maximum value for your 
employees, customers and shareholders," 
Gary Wendt, chief executive of GE Capital, 
said in a letter to David Mathis, Kemper’s 
chief executive. 

GE Capital also said Monday that its Ven- 
dor Financial Services had signed a new five- 
year financial services agreement with Pyxis 
Corp„ which makes systems that automate 
the distribution, management and control of 
medications and supplies in hospitals and 
clinics. 

Under the agreement, GE Capital wfl] pro- 
vide customized financial services support to 
Pyxis, including a minim um of §500 milli on 
in new financing, with no more than $350 
million outstanding under the credit facility 
at any one time. 

In turn, Pyxis has granted GE Capital the 
exclusive right to purchase certain lease re- 
ceivables generated by Pyxis during the term 
of the agreement. 

(Bloomberg, Knight -Ridder) 


Mondale’s Talks With Outcast Irk Tokyo 


For mare information about the index, a booklet Is avafobte freed charge. 

Wide to Trib Index. 181 Avenue Charles de GauBe, 92521 NeuBty Codex. France. 

O International Harold Trfcune 


By T.R. Reid 

Washington Fast Service 

TOKYO — Ambassador Waller 
F. Mon dale of the United States 
has ruffled some feathers in To- 
kyo's political world by dealing di- 
rectly with a maverick politician to 
settle the United States’ dispute 
with Japan over access to the local 
cellular- telephone market 

The agreement that Mr. Man- 
dale announced Saturday got a 
warm reception from President Bill 
Clinton and from the Tokyo Stock 
Exchange, where stock prices 
jumped about 2 percent Monday. 

But ft left a bitter aftertaste with 
some Japanese officials because 
Mr. Mondale negotiated with 
Ichiro Ozawa, a veteran parliamen- 
tarian who has much powerbut few 

Mends among fellow politicians. 

The tension got so high that last 
week, at the height of the negotia- 
tions, Mr. Mondale was asked by 
Kazuo Akto, Japan’s defense min- 


ister and a close associate of Prime 
Minister Morihiro Hosokawa, to 
stop talking to Mr. Ozawa, accord- 
ing to UJ>. and Japanese officials. 

After some hesitation, however, 
the negotiations went forward, a 
deal was reached, and Mr. Ho- 
sokawa’s government endorsed it 

But the episode left the Ameri- 
cans perplexed once more about a 
basic question — “Who’s in chaise, 
here?” — that has troubled Wash- 
ington time and again in negotia- 
tions between the world's two rich- 
est nations. 

Mr. Clinton has made trade with 
Japan a central foreign-policy con- 
cern, meaning that Washington 
side needs somebody to deal with 
on the Japanese side. But who? 

Mr. Hosokawa, for all his politi- 
cal slrilTs, seems uninterested and 
aloof when it comes to trade nego- 
tiations, officials said. Meanwhile 
Japan's career bureaucrats, who of- 
ten call the shots for the politicians 


on trade matters, still seem deter- 
mined to resist UJ3. demands. 

That leaves Mr. Ozawa, a blunt, 
pragmatic political professional 
with extensive connections among 
Japan's politicians, bureaucrats 
and business executives. 

The Americans were so pleased 
with Mr. Ozawa’s no-nonsense ap- 
proach that they encouraged him 
when be announced plans to travel 
to Washington next week. 

In fact, {dans are being made for 
direct talks between Mr. Ozawa and 
Mr. Clinton on other trade disputes 
— a prospect that has not been 
received happily by Mr. Hosokawa’s 
cabinet 

Accordingly, officials here said, a 
battle is raging within Mr. Ho- 
sokawa’s cabinet as to whether Mr. 
Ozawa should be allowed to make 
the trip. 

Mr. Ozawa has responded by 
withdrawing from public view. He 
canceled news conferences set for 


Clinton Urges 
Europe to Trim 
Interest Rates 


this week, and his office said it 
could provide no information 
about a possible trip to Washing- 
ton. 

American negotiators are watch- 
ing the controversy Kke weekend 

guests who find themselves in the 
midst of another family’s argument 

“We will talk to anybody they 
send over to deal with us,” a U.S. 
official said. “We had reason to 
believe that the prime minis ter 
himself wanted us to deal with 
Ozawa on the cellular phone deal" 
this official said. “Then we got this 
call from Aichi, and he very dearly 
said we were not to negotiate with 
Ozawa. But when we pursued the 
point further, we were apain led to 
believe that dealing with Ozawa 
was the approved course.” 

The United States and Japan 
have been beading toward a trade 
confrontation since July 1993, 
when Mr. Gin ton came to Japan 

See JAPAN, Page 19 


By Alan Friedman 

liuemanonal Herald Tribune 

President Bill Clinton, in a 
speech in Detroit opening a jobs 
conference that critics said would 
produce more rhetoric than action, 
on Monday called on Europe to 
reduce interest rates and on Japan 
to increase domestic demand as 
part of an effort to stimulate 
growth and create jobs. 

Although U.S. officials had been 
trying to reduce expectations ahead 
of the two-day conference of the 
Group of Seven nations, a British 
official said Monday that a plan 
had been agreed upon to tackle the 
unemployment crisis in the leading 
industrial commies. 

“We decided on a common set of 
principles” that will be taken to the 
Group of Seven's annual summit 
meeting in July in Naples, David 
Hum, Britain's employment minis- 
ter, said after a meeting attended 
by Mr. Gin ton. 

Among the points in the plan, 
Mr. Hunt said, were investment in 
t rain mg and slriUs to improve the 
quality of labor markets; a renewed 
commitment to free trade and open 
markets; increased flexibility in la- 
bor markets to provide opportuni- 
ties for the long-term unemployed; 
and pursuit of a stabler low-infla- 
tion economic environment to fos- 
ter long-term growth. 

[Henning Christophersen, vice 
president for economic affairs of the 
European Union’s executive com- 
mission, agreed that more should be 
done to reduce interest rates, 
Agence France- Presse reported. 

[“In Europe, we need a further 
reduction in interest rales,” he said 
in a statement released as the job 
conference began.] 

In his speech, Mr. Clinton said 
“collective energy and ideas” were 
needed to solve the international 
crisis of chronic joblessness and 
stagnant wages. 

While he admitted that the loss 
of jobs was also a result of structur- 
al changes such as a decline in 
Western manufacturing industries, 
Mr. Clinton hamm ered home the 
need for economic-policy measures 
as wdL 


In recent months, American offi- 
cials and central bankers from 
France and Germany have dis- 
agreed in private and in public over 
Washington's desire for easier 
money as a way to stimulate eco- 
nomic growth. 

“We know that the riddle of job 
creation cannot be solved entirely 
by low interest rates or better train- 
ing policies or high-tech investment 
alone, but we need these,” Mr. 
Clinton told an audience of finance 
and labor ministers from the Unit- 
ed States, Japan, Germany, France, 
Britain. Italy and Canada. 

He streskd that government 
measures designed to spur growth 
had to be accompanied by incen- 
tives to create high-wage jobs. 

“Private enterprise, not govern- 
ment action, is the engine of growth 
in the economic sector," be said 

Mr. Clinton, who said the Unit- 
ed States would continue to reduce 
its budget deficit as part of its con- 
tribution to world economic 
growth, added that he saw no rea- 
son for further increases in interest 
rates in the United States. 

Rates in America had “had logo 
up some” after the economic recov- 
ery began picking up steam, but 
this movement was no came for 
panic, Mr. Clinton told reporters 
before his speech. 

“We had the highest growth rate 
in a decade, but f think that since 
there is no inflation in the econo- 
my, interest rates should not con- 
tinue to go up,” he said 

Norbert BlOm, Germany's labor 
minister, meanwhile warned that 3 
million unskilled jobs would disap- 
pear in Germany in the next eight 
years, and he said it was essential to 
train people and equip them with 
new skills. 

Mr. BlQm said Germany could 
learn from the more flexible work 
patterns, such as part-time work, 
that are widespread in the United 
States. But be and Gflnter Rexrodt, 
the Goman economics minister, 
said there were aspects of the 
American system that Germany 
did not wish to emulate, such as its 
large number of low-paying jobs. 


Thinkirtg Ahead /Commentary 


Time for a New World View at OECD 


By Reginald Dale 

International Herald Tribune 

WASHINGTON — One way to shake up 
an international organization is to give it the 
right new boss. 

Since last year, Ireland’s energetic Peter 
Sutherland has supplied a big shot in the arm 
to the General Agreement on Tariffs and 
Trade in Geneva. In London, Jacaues de Laro- 
sifere is cleaning up the mess at the European 
Bank for Reconstruction and Development 

Now there is a move afoot to give a s imil a r 
jolt to the low-profile Organization for Eco- 
nomic Cooperation and Development, based 
in Paris. Unfortunately, the leading mdustnal 
democracies that run the outfit are going 
about it all the wrong way. 

The OECD —part think tank, part forum 
for intergovernmental cooperation — has 
been undergoing an identity crisis for as long 
as almost anyone can remember. Now as the 
world speeds away from its partitioned post- 
war economic structure toward global mar- 
kets, it is high time to rethink the organiza- 
tion’s role. ... „ 

The chance to do just that has arisen as 
Jean-Claode Pays, the organization’s cmrmt 
secretary-general approaches the end of his 
second five-year term in September. 

For months now, American officials have 
been saying, “What we need is our own Peter 
Sutherland.” But instead of trying to find 
that pereon, Western governments are gang 
. through the tired old ritual of supporting 
candidates because of their nationality. 

The U.S. a dminis tration lamely deaaea to 
try to break the traditional European monop- 
oly on the job by asking Canada topr«iucea 
candidate - figuring that it would be more 
diplomatic to use aCanadbn stalking horse 


to win the post for North America than to 
demand it for the United States. 

So Canada has trotted out Donald John- 
ston, president of the governing liberal Par- 
ty, who held several economic cabinet posts 
under Pierre Trudeau but is little known 
outside his native land. 

Britain supports the cand i dacy of its con- 
troversial former chancellor of the Exche- 
quer, Nigel Lawson; Germany is offering its 
own favorite son, Lorenz Schomerus, an Eco- 
nomics Ministry official who has little chance 

While members h aggle 
over a new chairman, they 
could he working to 
redefine the group’s role. 

of winning; and France, of course, backs Mr. 
Paye for a third term. 

As a result, the choice will probably be 
made by horse-trading among the major 
powers, with no real discussion of the organi- 
zation's future, the merits of the candidates 
or their views. 

Mr. Johnston and Lord Lawson are both 
promoting themselves as senior politicians 
who wifi find it easier than Mr. Paye to 
hobnob with government leaders. But neither 
of them has much in the way of a thought-out 
p lan for the organization's future. 

The sharpest analysis comes from Mr. 
Paye, who argues that there is a big vacuum 
to be filled by the OECD in a world where 
markets and corporations are global but gov- 
ernments are sml only national 


The organization could also be the best 
place for dialogue and problem-solving 
among the emerging regional economic 
groupings in Europe, Asia and North Ameri- 
ca, he said. 

Already the OECD has become modi more 
active in pursuing contact with nonmembers in 
Asia, Latin America and Central and Easton 
Europe. Mexico will probably join this year, 
and South Korea in perhaps two years' time. 

That’s the way to go. By acquiring new 
members to reflect the changing balance of 
world economic power, the OECD can 
strengthen its role as a pathfinder in world 
trade negotiations. 

At the same time, h should position itself 
to give dose support to an expanded Group 
of Seven and to help integrate the ex-Com- 
munist nations into the world economy. 

As a bastion of Western liberal economic 
values, it should aggressively recruit the most 
dynamic developing and ex-Communisi 
countries as soon as they qualify to join. 

But the OECD cannot decide to do all that 
by itself. What governments should do in the 
next few months is to first agree on a new 
blueprinL for the organization along these 
lines. Then (hey should look for the candidate 
best able to cany it out 

It does not much matter whether the new 
secretary -genera] is a politician or a bureau- 
crat The job carries only as much authority 
as governments are prepared to grant. 

A good way to start would be a series of 
internationally televised debates among the 
four candidates. That not only would help to 
pick the winner; it also would bring (he 
OECD and the issues that concern it to a 
wider audience. Perhaps Peter Sutherland 
could be persuaded to moderate. 


CURRENCY & INTEREST RATES 


Cross Rats* 

I * DM. 

Amsterdam l« 2M 

inmcu H® SUtn 7uan 

Frankfort UDS ZB* ““ 

Unman (a) — IfS 

MnHd UM W™ 

Mta inw MSW® 

Nm Yar* <M MW" 

Nm sm MB 

Tokyo IB* W* ** 

Urate 13* UW U® 

Zarick 1 JBB 2.®* *** 

1ECU U* 

ISM wo* Nan uw 

Oosines in Amsterdam, London. 

rotes at 3 am. 

a: To bur one pound ; b: T0 Bur 
OVBUOML 


March 14 

Tot — MB* *£• S» "S5 

*2 HBW Bias 81* 

*s«* u* uw* 

gS S u£ suits va iam lira »jo 
MB- 71M UTO ran taws- m* — 
— nuo am liras isau otji nan 
aw uk m.m urn nut 

f? 1 SS- IP 0.1*« SASH* UTJ3 II rn> 
cre< HQH 7409 ■ “ 7W5 IBW 

S'* —S : s!S- 

“SSSSJSISSSSSmS 

w MUri ... umts el m Sfti NA: nat 


Eurocurrency Deposits Man* « 

Swiss French 

Dollar ZMMark Franc Sterling Franc Von ecu 

1 month 3JW3M, 4N4fc 5Yw5V» « ^ 6 ' u ^ 

3 months 3%-m 51W? b 3Vw4«. 5*4* 2**2* 

6 months 45V4* 5 m. 39M 5 MrJ W. SMfo 2 *r2 «. *** 

1 year 4*4* SSr5* 5V*5Vi. 2V4-2% 5 Vir6 ^ 

Sources: Reulen Uords Bonk. 

to krirvtiank deposits ofSlmUBan minimum (arewtvalentl. 


Other Dollar 

Currency PWS 
Argent, puo 09901 

AmtraLs ura 
- AlMr.KH. H»i 
BrnS eras. 7IW0 
G nome tom tUDB 3 
CaKfi koram 2M* 
■Hnbhknm* hsn 
Em*, pound 1*7 
Fm.marMW SMS 


Values 

currency **“ r * 
Ormekctrac. 24&» 
Hong Kong t 
Hwo-terlot laMl 

l ■><*» nn*e 3 ‘-** 

w*«** S 

irips 

uraeUftw*. 

KmwWdiwr 

Malar, rtost 2-7715 


Onrener 
Mn.MM 
N. Zealand* 

Non*. Krone 

PM.PMO 
Pea* dote 
Pori.tscudo 
Rvu-nAte 

Sou® rival 

Sir*-* 


Currency wrj 
S.Afr.Tw* K*s 
S. Kxr.won 80UB 
Swed. krona 7439 
Taiwan 1 2H39 

Thai ha® XJ2 

TarfcbbURi 20179. 
UAESrhaa 347 
vem MOv. 11340 


Forward Ratos 

Currency 

Poona StuHnO 14w 

Dtatacbo mom 
Mu franc xxn 


'JJL «HSOT SSSiWWr < !SsTSt9 

si ss is “■ - “■ 

14233 14234 Banco Gommerdole. iwtow 


-i . i iw '-rr: 

UB3 14234 . .Knnaetst: Banco Cornnerdm itaUana 

— — — 

ssskssss.-- — — 


Key Money Ratss 

United stoles Close 

Dtscoantrale 340 

Frimarato 440 

FUml tends 3 ft 

3-manttiCDs 127 

CoaoLpapar TMdan 440 

UnoteO Trtn HU Y MU 3J1 

1-year TreanryUl 4.11 

3yearTmmrynoto 496 

Syear Treasury note 544 

1-nar Trwwry note ui 

10-year Treasury note 641 

Mroar Treasury 644 

SUrriaWyMhNday Ready wuet 178 


Discount rate 1% 

CaU noser 2 tb 2 h 

T -month Intarhank 2 ?. 218 

XBoam tatert w * 24 2 ■v. 

emantti Interbank 214 244 

le-yrar Qovtrsmcrrt tend 3J7 344 

PerHwmy 

Lombard rote 614 6W 

CaU money 640 640 

l-moolb Interbank 645 645 

> month In terbank 5.90 540 

6- mwiiHi Inter ba nk £70 £70 

te-ycarBaad 422 546 


Britain 

S2S* <5 “ * 

UEI money cVm c bl 

l-mantn Interbank ±7 

Xnanth interbank f* 

Mn Both Interbank 

l oreor dlt 7M 7J3 

SSLtoarate JJ *JJ 

CaH money 6 .” S 

t-month Interbank 

3-mMtii interbank r? 

fauna interbank ^ 

1 Sources. - Reuters. Bioomb*re> 

Lrneh. Bank at Tokyo . 
GnenmllMentegu. Crwfli Lvamwia. 


(fetid 

am. PM ctrte 

Zorich 38675 30475 UrKS- 

London 386J0 38450 --£15 

New York 38450 38730 +»■» 

US. Oollors per ounce. LmdontdBclalfie- 
InassZurkh end New York enenirw end 

tnc eriem; New York Cemex tfiprilj 
Source: Reuters, 


Quite simply the Royal Oak, 


m 

iUDEMARS PlGUET 

The master watchmaker l 


I iit infimiucinn and pltr.i*e wriio Ur 

Audi-nur- I*ikiili & Cic S.A.. l^rM U- Hr.iv.us. S«.iizntind 
T d it 21 S 4 s h 9 31 Fax 41 21 42 U 




ilt 3 d | hfl 


Page 14 

MARKET DIARY 

Technology Issues 
Rise on Wall Street 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, MARCH 15, 1994 




Via Ajsobatad Piets 


i Dow Jones Averages j EUROPEAN FUTURES 


The Dow 

risnrss 


Metals 


Complied bt Our Stiff Frtm Dispatches 

NEW YORK — Stocks edged 
higher on Wall Street on Monday, 
as a rally in technology issues over- 
came concerns about rising long- 
term interest rates. 

The Dow Jones industrial aver- 
age rose 0.28 of a point to 3.862.98 
after a late bout of computer-driv- 
en sell orders shaved almost 10 

UA Stock* 

points off the average- Nine com- 
mon stocks were higher on the New 
York Stock Exchange for every 
eight shares that declined. Volume 
was a moderate 260.2 million 
shares. 

"The major question for the eq- 
uity market going forward is how 
fast inflation accelerates because 
that will determine where interest 
rates go next,” said Jeffrey Apple- 
gate, investment strategist at CS 
First Boston Corp. 

Interest rates were up Monday 
after the Federal Reserve Bank of 
Atlanta said its survey of business- 
es in the southeast reveals that in- 
nation is more of a problem than 
had been thought 

The report caused the yield on 
the 30-year Treasury bond to rise to 
6.94 percent from a low of 6.88 
percent When rates advance, in- 
vestors tend to move money into 
fixed-income investments from 
stocks. 

In the stock market, Unisys was 


prominent among rising technol- 
ogy issues, up 'h to 161* after Leh- 
man Brothers upgraded the stock 
to “buy” from “outperform,” trad- 
ers said. 

Other rising technology issues on 
the New York Stock Exchange in- 
cluded IBM. up 116 to 57% and 
Motorola, which rose 1% to 107, 
benefiting from the weekend deal 
between Washington and Tokyo 
that would open the Japanese cellu- 
lar phone iruufcet to ii. 

In over-the-counter trading, Ap- 
ple rose % to 38 after introducing 
its first computers based on the 
PowerPC chip developed with IBM 
and Motorola. Other gaining OTC 
technology issues were Intel, up 1 % 
to 69%; Sun. which rose % to 30; 
and Microsoft up I Vi to S3'/4. 

Telefonos de Mexico was the 
most-active New York Stock Ex- 
change issue in late trading, sown 
3% at 62%. 

Shares of electric utility and tele- 
phone companies were among the 
most poorly performing issues on 
the stock market. These stocks of- 
ten fail when interest rates rise. 
MCI Communications Coip. de- 
clined % to 24%. Ameritech Corp. 
fell % to 40% and Pacific Gas & 
Electric Co. slid Vi to 30%. 

Walt Disney fell 1% to 45%. The 
company mil share the burden of 
refinancing its 49 percent-owned 
Euro Disney SC A with creditor 
banks. 

(Bloomberg, Knight-Ridder. AP) 


Indus 3870 79 3871 42 3851 M 384? * B 0 28 

Trans 1731*7 1777.88 171908 172* IT S0O 

■Jill 707 46 70* 73 708 08 208X1 —118 
Came 73*41 I3ta 29 Un.SO 13*601 0 M i 


Standard & Poor’s Indexes 

HWi Low Close dfOe 
Industrials 5414* 547.00 54844 + l .21 

Tronic. 470-31 418X0 419.74 4-0184 

Utilities 1*1X1 14088 14? JS — 056 

Finance 8X59 4023 43 58 + 007 

SP 500 4*740 44408 4473? 1- 095 

SP 100 43344 43307 43337 + 053 


I NYSE Indexes 


High Law Last Qip. 

Composite 759 1? 258.46 25941 -0.-18 

Industrials 370 5* 319.75 32059 -QJT7 

Trans s. 247 07 76606 744.75 ■ 041 

Utility 217.77 215.98 216.74 —0 8* 

Finance 211 *0 710.80 211.71 -8*1 


Close 

BW AtiC 
ALUMINUM IHfett Grade) 
muon perflHBrtciok 
Spot 127150 127150 

Forward 129440 1297.00 

COPPen CATHODES (High 
Dollars pgr mrtrk: ton 
SOOt 193050 199I.S) 

Forward 1944X0 1945X0 

LEAD 

Dollars per metric ton 
Spot 449.00 450X0 

Forward 46350 44440 

NICKEL 

Dollars per “ C IT? C l* 1 ?, m 

F0?Wd tSaOO 557000 

TIN 

Dalian per mgfrtcton 
5pa1 542540 543540 

Forward 5475.00 548040 

ZINC (Special High erode) 

Dot Ian per metric ton 

Soot 9SU0 HI'S 

Forward 949X0 9SUXJ 


Industrials 

High Low Lost seme CM* 


1274X0 127750 
12*9.00 130040 
Grade) 

1912X0 1913X0 
1927.50 1930X0 


45150 443-50 
444.00 447X0 


S 555X0 5545X0 
5415X0 5430X0 


5390X0 5400X0 
5430X0 5435X0 


930X0 939X0 
955X0 954X0 


GASOIL 1 1 PE) 

UxTaoikn-i per metric ton-lots ot 100 *o« 
Apr I37JS 135.75 13640 13400 -425 

Sn 137X0 1 )5-25 135X0 I IS 50 — 0X0 

sS! 137X0 iSS 13440 13440 —0.75 

Jld 138-50 137X0 IJ7X0 137.75 — 0-M 

Aug 13905 13*30 139X0 13930 —075 

Sep 141.75 141 03 141.75 141 05 —1X0 

Oct N.T. N.T. N.T. 14475 —130 

NO* 14430 14430 14430 14475 —1X0 

Dec 14830 14830 18A73 148.75 —1X0 

Jan 149.75 14925 149.75 14975 —1-3 

Feb N.T. N.T. N.T. 149X5 — 1-» 

Mar N.T. N.T. N.T. 14425 — 1X0 

EiL volume: 9X11 . Open Int. I1IU14 

BRENT CRUDE OIL (IPE) 

UJLOaUBn per b urnt l ots ot 1M0 barrels 


3 O N D J -F M 
1993 1994 — 

ihtt NASDAQ Indexes 


NYSE Most Actives 

VoL High Law La 


06 

67S 

42S 

— 3 ’ 4 

MF-. 

»S 

TO 1 * 

• S 

1419 

15V, 

I6S 

• s 

571. 

55S 

57S 

• IS 

SIVta 

50! 4 

51"- 

- ■., 

56'u 

55 

55 ’ 4 

• *4 

TH’-'i 

77S 

77 S 

— + 

34+i 

358> 

35*- 

— • 4 

29-Mi 

70S 

79 

- V- 

47+, 

855 7 

45'* 

—I 1 * 

79 >U 

70S 

39V» 

' -4 

J 8‘1 

341a 

371a 

• IS 

IS 

*,1 

IS 



37S 

31S 

37 S 

- 1 >» 

JBS 

37S 

38 V. 

-IS 



High 

Law 

Last 

CM. 

Composdo 

7*7 97 

790.79 

79227 

•321 

Industrials 

341X7 

837.75 

Bxa&a 

• 624 

Bur* 5 

*8670 

681.27 

46613 

-IXO 

Insurance 

973.33 

919X3 

* 21.10 

-O.I7 

Friance 

887.63 

885-57 

807*45 

-729 

Tramp. 

79617 

7*129 

794 1? 

-557 

Tefccom 

1*9 bl 

I48 07 

14601 

—0 03 


NASDAQ Most Actives 


Rate Speculation Gives 
A Nudge to the Dollar 


MCI 4 
AoofeC 
SunNUc 
Intel s 

Novell, 

Ce&sicr 

MiCsfts 

SnonBrS 

TeteiMox 

SLM s 

Brunos 

Cirrus 

Winstar 

DSC 

HereiTe 


VoL 

Hfeh 

LOW 

Lost 

57448 

25 

24S 

28'.* 


38V, 

37*1 



30* 

7949 

79 s. 

30451 

70V. 

68 

70 

24240 

7* 

23S 

74 





21405 

88 V. 

B3". 

ass 

71181 

35 

23'i 

33 V* 

70858 

3V« 

3S 

3V» 

19044 70(5 

18 

10"-a 

17717 

as 

7S 

7S 

14597 

34 V. 

3SM 

34". 

141 OS 

7'-u 

46,. 

6*,* 


56’. 

55 

5*S 

15814 

19 

16 

Wrri, 


AMEX Stock Index 

High Low Lest On. 
44409 445.98 46404 -2.08 

Dow Jones Bond Averages 

Close Ctroe 
20 Bonds 102J4 9-0X4 

10 Utilities 10043 9-0.19 

10 Industrials 104X3 —412 

NYSE Diary' ' 


Advanced 
Oedfrterf 
Uncnan-aed 
Total issues 
MawVhahs 
New Laws 


AMEX Most Actives 


AMEX Diary 


Compiled try Our Staff From Dispatches 

NEW YORK — The doDar post- 
ed moderate gains on Monday as 
speculation mounted that the Fed- 
eral Reserve Board may raise rates 
relatively soon and as regional elec- 
tion results in Germany undercut 
the Deutsche mark. 

The dollar closed at 1.6910 DM 
on Monday, up from a close on 

Foreign Exchange 

Friday of 1.6835 DM, and to 
106.175 yen from 105.000. 

Dealers also said the dollar's rise 
was also prompted by expectations 
of lower European interest rates 
amid signs that the Bundesbank 
could further reduce German rates 
at the central council meeting on 
Thursday. 

The mark had been undercut by 
Sunday’s election results in Lower 
Saxony, which dealt a sharp set- 
back to Chancellor Helmut Kohl's 
coalition government 

Nick Parsons, an analyst at Ca- 
nadian Imperial Bank of Com- 
merce, commented that the market 
was wary about the implications of 


the vote for German legislative 
elections next October. 

“The market was not struck so 
much by the defeat as by the Liber- 
al party's drop below the 5 percent 
leveL" be said, commenting on the 
fate of the government’s junior co- 
alition party, which failed to meet 
the threshold needed for represen- 
tation in parliament. 

Traders added that the impact of 
the Whitewater investigation on 
the dollar was also receding after 
initial reactions and many uncon- 
firmed rumors last week triggered 
bouts of speculative selling. 

The key consideration in the 
market remains, however, the inter- 
est rate outlook in the U.S. and 
Germany, with many investors ex- 
pecting inflation data in the United 
States on Tuesday and Wednesday 
to support the rase for a further 
tightening by the Fed. 

Against other major currencies, 
the dollar rose to 1.4355 Swiss 
francs on Monday from a close on 
Friday at 1.4200 francs and it 
climbed to 5.7470 French francs 
from 5.7243 francs. The pound 
slipped to $1.4958 from $1.5000. 

(Reuters, AFX) 



VoL 

Higb 

LOW 

Las) 

ArmM 

8775 

7 

frS 

4’-« 

ENSCO 

7829 

3V. 

3Vi 

3S 

Edioeav 

5759 

176* 

19 S 

ITS 

ExpLA 

5757 

l'/a 

1V« 

IS 

IvoxCp 

5451 

37 S 

31 S 

31*4 

miertjlo 

4572 

vn 

5 

sw 

RoodmsJ 

8011 

-rvn 

8V M 

4V|. 

SPOT 

3859 87V u 

86F/n 

86" b 

ChevSfts 

3714 42S 

40Vi 

81V) 

AHogenn 

3108 

17V* 

IT". 

17S 


Advanced 
Declined 
Unchanged 
Torol issues 
NewHigns 
Now Lawn 


1154 1137 

W3 947 
4*8 672 

2805 2771 

66 43 

78 116 


314 306 

272 312 

244 Z2I 

854 839 

15 II 

13 23 


Market Salos 


NASDAQ Diary 



Today 

Prey. 


4 PJIL 

cons. 

NYSE 

24A14 

372.98 

Amex 

15J9 

1929 

Nasdaa 

232X4 

30221 


Advanced 
Declined 
Unchanged 
Tola! issues 
New Highs 
New Laws 


142? 1542 

1504 1422 

1494 1835 

4820 4819 

120 95 

34 42 


Financial 

High Low Clow Change 

3-MONTH STERLING (LIFFE) 
OOWMM-pbaf 188 pet 

Mar U43 94X0 *4X1 UlXJv 

jSf 9687 MX3 94X4 + 0X2 

e*a 94.75 94.71 9472 +0£13 

rk£ 9434 98X9 9432 + 0X5 

Mar 04 77 9423 9425 +CL06 

55T 93# 9193 93.96 +OX4 

Sep 93X8 9142 9164 +0X5 

Jw *3J5 93X3 9135 + 0X6 

Mar 9JM 93X5 93X5 +OX4 

jET 92Jffi 92.77 njB +XX 6 

Est. volume: 47,633. Open h 1 *.: 437304. 
3-MONTH EURODOLLARS (LIFFE) 
si mnnoa - pts or m oa 

I i i 1 I 

as- Sx as ty 

Sep N.T. N.T. 94.11 +0X4 

Est. volume: 399. Open Ini. 14X24. 

3-MONTH EUROMARKS (LIFFE) 

DM1 mfflloa -Ids Of 190 PCt 
Mm- 94.14 94.13 94.13 UntfL 

Jen 9437 9434 9434 +BJM 

s|p *4X3 *477 94X2 +0X7 

9497 94.92 9456 +0X6 

Mar 9SX3 9498 9SX2 +0X8 

JWI 9498 9492 9696 +0X8 

Sep 9482 *477 94X1 +0X9 

Dec 9<A8 9437 *431 +0X9 

JSS- *443 9442 9443 + O0B 

JM 942a 94X6 94X8 + 0X8 

Est. volume: 91721 Open Inf.: 981X91 
3-MONTH FRENCH FRANC (MATIF1 
FF5 million -Pfsof 100 pri 
Mar 9179 9176 9305 — 0X3 

Jun 9422 94X0 94X1 + 0X3 

Sep 9432 9447 9430 +0X4 

Dec 946* 9464 9468 + 0X7 

Mar 9474 94.65 94J3 +008 

Jan 94X8 9432 94X7 +0X8 

Sep 9434 9447 9434 + 0X9 

Dec 9634 94X0 94X6 + 0.10 

Est. volume: 44J85L OP«n inf.: 311271. 
LONG GILT riJFFEJ 
(50X80- pts & 32mb of 110 PCI 
mot in-24 iii-u iu-20 +0-16 

Jen 110-38 110-12 110-22 +0-16 

5ep N.T. N.T. 109-28 +0-16 

Esl. volume: 46.190. Open bit: 144264 
GERMAN GOVERNMENT BUND CLIFFE) 
DM 2SA0M - Pts oflW pet 
Jaa 97X3 96X5 9489 +161 

Sep 96.70 9460 9438 +062 

Est. volume: 104X11. Open Ini.: 212350. 

18- YEAR FRENCH GOV. BONDS (MAT IF) 
FF508XM - P>S 04 IN PCt 
Mar 125X4 12500 12S36 +0X2 

Jim 125X8 12476 125.10 +194 

Sep 12460 12410 124X8 +0X4 

Dec N.T. N.T. N.T. (JnCtL 

Est. volume: 2 05X45. Open Int.: 229X43. 

Spot CommodHtes 

Com modify Today Prev. 

Aluminum, lb 0377 0379 

Coffee. Brat, lb bji fijn 

Copper efrcfrolytlc. lb 0X2 0X2 

iron FOB. fan 7T3X0 213X0 

Lead, lb 8X4 0X4 

Silver, irov oz 5X7 5 m 

Steel (scrap), ton 133J3 133X3 

Tin. ttl 3387 33496 

Zinc, lb 44387 0X366 


Apr 

13X1 

1X55 

3X74 

1174 

+ All 

Mar 

13X4 

1128 

1X89 

13X7 

+ 008 

Jon 

13X3 

1X24 

1X45 

1X50 

+ 005 

Jul 

1140 

1X82 

13X7 

1187 

+005 

AU9 

1X71 

1X55 

1X55 

1X55 

— 003 

Sun 

1X84 

1X45 

13X5 

1X76 

— 007 

Od 

1601 

1X90 

1X90 

1X94 

N.T 

NQV 

1636 

1603 

1603 

1608 

N.T. 

Dec 

1624 

1607 

1607 

1633 

+ 0.18 

Esl volume: 56521 . 

Open Int. 157.139 


Stock Indexes 

PTSE 108 (LIFFE) I 

3203X 3233X +42X 

S TO TO 332 tss 

Esl. volume: 7X1A Open int: 70 649. i 

CAC 40 (MAT1F) 

FF 2 D 0 per tmto.POtnl 

Unr < wr»irin 220&J00 7227-00 + 46010 

JS? mmi 221830 2238X0 +44OT 

nS* 7 7 TB *n 2238X0 224130 +4400 
jS 222400 222450 +44t® 

Sep 2241X0 ttth nn 2242X0 + 46X0 1 

SSl N-t! NX. 227100 +44W 

Esf. volume: 22X75. Open Inf.: 64474 
Sources: Matft. Assockrted _Press. L atefon 
Inn Financial Futures Exchange. Inti 

Petroleum Exchange. 


Dividend* 

Company Per Ami Pay Rec 

IRREGULAR 

! Fidelity Asset . .13 3-ii 3-14 

Metropalifan Rtfv _ 22 3-g S-S1 

Tafefonas Mex A x 6-W 6-30 

TctefanosMexA x X383 6-20 6X0 

x -approx amouni per ADR. 

REVERSE STOCK SPLIT 

Oreo Inc : 1 tar 200 reverse split 
Oroanlk Tech : 1 tor 6 reverse split. 
INCREASED 

independence Fd - 20 +J 5-27 

LSfl BocsJin NC Q .1375 4-1 +15 

INITIAL 

Waklen Residential _ J» 5-13 +2 

SPECIAL 


_ J!4 5-13 5-2 


Commerlcal Bcp CO 
Reliable Frtel 


Astro Med Inc 
Consumers Water 
Fidel Adv inooGrw 
Fidel Cv 5ecur 
Fidel Ea inco II 
Fidel Mkl Index 
Fidel US Ea Index 
FstSbcnanpoBanc 
Flexsteel ind 
Hamisctifeaer ind 
Hyperion 1997 
Hyperion sans 
INVG Mtg Secur 
lndepend So Inco 
Mull 5 vos Lf 
NBSCCOTP 
New Plan Rlty 
Rauch ind 
Redwood Empire 
Reliable Fuel 
SeHaimm QtlY Mun 
Sationian Sel Mun 
Slider inti 
Tolxon Carp 
Untied Counties 


.15 343 4-1 

.15 3X1 4-15 


a A3 3-22 4* 

a 29 5-10 5-25 
Q .12 3-11 3-14 
□ .18 3-11 3-14 

O J89 3-11 3-14 
Q M 3-11 3-14 

O .10 3-11 3-14 

_ Of, 3-31 4-2D 
Q .12 3-25 44 

Q .10 3-25 4-8 

M AS 3-21 3-28 
M X625 321 3-28 
O XD 3X1 4-15 
M .115 3-23 3X1 
Q 35 3-25 3-31 
Q .13 >15 4-1 

O -33 3-16 +6 

e X167 >21 44 

8 X35 >2 >16 

35 3-31 +15 
M X782 >21 3-29 
M A7 321 >29 
Q JM 4-1 +14 
A JJ -23 >30 
Q JO +22 >2 


o-amoaf; g-parable la canadtap Mods; m- 
montniv; e m ubdr; s-semi-amal 


Prospects of Lower Bates Gladden Investors in Europe 


Compiled by Our Staff From Dispatches 
LONDON — Most European 
stock exchanges posted sharp gains 
on Monday, as investors manifest- 
ed a growing belief that interest 
rates would rail further. 

Hans Tietmeyer. president of the 
Bundesbank, said Western Ger- 
man inflation should be within the 
target range of the central bank's 
goal of less than 2 percent a year. A 
moderate rate of inflation would 
make an interest rate cut in Germa- 


ny more likely, allowing other Eu- 
ropean central banks to stimulate 
their economies in the same way. 

In London, the Financial Times- 
3 tuck Exchange 100-share index 
closed up 41.5 poinis at 3.233.4. In 
Paris, the CAC-40 index ended up 
40. 1 3 points at 2,2 15.02. In Germa- 
ny, the DAX ended official trading 
at 2145.17, up 41.68 points. Later, 
the DAX stood at 2,16932 on the 
electronic IBIS system. 

U.K. shares were supported by 


February producer price data, 
which show steady economic growth 
combined with subdued inflation. 
The producer prices, a measure of 
the cost of goods leaving factory 
gales, rose 0.1 percent in the month 
and 3.3 percent year-on-year. 

“These figures hare raised hopes 
of another cut in interest rates, and 
that’s been wefl received by the mar- 
ket," said Steve Wright, U.K. equity 
analyst at Barclays de Zoete Wedd. 

But the release of U.S. February 


producer price and consumer price 
data Tuesday and Wednesday, re- 
spectively, add a note of caution. 
These statistics are seen as key to 
the timing of the next hike in U.S. 
interest rates, which would hurt 
stock and bond markets. 

French stocks rose as strong re- 
sulls posted by companies inspired 
investors and heralded growth, 
traders said. 

(Knight-Ruider, Bloomberg) 


U.S./AT THE CLOSE 

Rise in Sales and Inventories Halted , 

WASHINGTON (AP) — Business inventories were virtually uu- ■ 
changed in January and sales slipped 0 J percent after fire consecutive + 
monthly increases, the government said Monday. 

Inventories totaled a seasonally adjusted $872.9 billion, the Commerce , 
Department said, nearly the same as December’s revised total. 

Total sales by businesses, meanwhile, fell to a seasonally adjusted 
$610.9 billion, the first decline since July. The figure indudes retail 
wholesale and factory transactions. 

The inventory- to- sales ratio was 1 .43 at the aid of January, compared ^ 
with 1 .42 the previous month. That means it would take 1.43 months to 
exhaust stockpiles at the January sales pace. 

Dana to Buy Metallgeselkchaft Asset 

NEW YORK (Knight-Ridder) — Dana Corp. said Monday it had 
signed a letter of intent to buy Metallgesdlschaft AG’s47 percent stake in 
Kolbensdimidt AG. Terms were not disclosed. 7 

Kolbenschmidu based in Neckarsulm, Germany, makes and distrib- ‘ 
utes pistons, piston pins, friction bearings, valves, aluminum engine , J . 
blocks and oil and water pumps. It has projected its sales for this year at 
$650 million. Dana makes and markets products and systems for vehicu- ' 
Jar and industrial equipment markets. 

Sprint Sets $350 Million Investment 7 

WASHINGTON f AP) — Sprint Corp_ the United Stales' third-largesi 
long-distance telephone company, said Monday it planned.to invest $350 
million in the next three years to install an advanced form of fiber-optic 
transmission equipment in its 23,000-mile network. __ 

Sprint said the upgrade would provide its customers uninterrupted 
service when tines are damage d and enable them to send video and data 
traffic over its network at twice the speed and volume currently available. 

The new technology mil rely on an advanced form of fiber-optics | 
transmission called Sonet, for “synchronous optical network.” It wm be 
installed in each of 338 locations where Sprint’s network connects with | 
those of local telephone companies. ] 

Ralston Gets Favorable Tax Ruling 

ST. LOUIS ( Bloomberg) — Ralston Forma Co. said Monday that the i 
Internal Revenue Service had issued a favorable tax ruling on its proposal i 

to spin off several businesses including its cereals and baity-foods lines. [ 
The spin-off plan stiQ. needs Securities and Exchange Commission 
approval and a final review by Ralston directors, the company said. 

If those conditions are met by March 24, shares in the proposed new 
company would be distributed March 31, Ralston said. Holders of . 
Rais ton- Rais ton Purina Group stock would receive one share of the new 
concern, Ralcorp, for every three Ralston Purina Group shares; accord- ■ 
ing to a filing the company made with the SEC in January. 

Federal Express Stock Jumps 

MEMPHIS, Tennessee (Bloomberg) — Federal Express Corp. shares 
rallied Monday after the company reported improved eanhngs because of a • 
gain from aircraft sales and reduced losses in its international division. 

After trading closed Friday, the package and document delivery ~~ 
company said third-quarter net income had risen to $312 million, or 55 
cents a share, from $8.5 million, or 15 cents a share, a year earlier. 

Its shares were quoted late Monday at $70,875, up $3.25. 

For the Record 

Crane Co. said it had raised its offer for Mark Controls Corp. to SI 530 
a share from $13. (Reuters! *“ 

Tete-Cwmmim'catians Inc's chief executive; John Malone, has talked 
with Time Warner Inc. executives about a possible international cable- 
music program to compete with Viacom Inc's MTV channel according 
to executives dose to the talks. (Bloomberg) 

General Motes Corp. workers at two brake factories went on strike •- 
Monday af to- failing to reach agreement on a contract The 3,000 striking 
workers at the Delco Chassis Division plants said they were worried ^ 
about job security. (AP) * 

Weekend Box Office 

The Associated Pros 

LOS ANGELES — “Guarding Tess" topped the weekend box office. ^ 
earnin g an estimated $7. 1 million. Following are the Top 10 moneymak- 
ers based on Friday ticket sales and estimated sales for Saturday and “ 
Sunday. 


fo$« ei 


■ ■ y# ^ “ 

1 ■ 1 . v - 

I .-.-J.-'- . 

1 '-Jv-'-V 

i': it-* . 


*v* nr,n 

i^ p,iv;l 




,C - 

-sir ‘ - 

; re*-- 


Hlders Oj 
hropean 




4 *-!-' V.' 


1 . "Guo rtlina Tess" 

2. "UutiHno JorcJc" 

3. -Ace Venture. Pet Defective' 

4. -TlieRer 

5. -SDlMOIef'S List" 

6 . "Greedy" 

7. "On Deadly Ground" 
I'Anole" 

9, "Mrs.Doubtflre" 

10. "Sugar Hill" 


( 7MStorJ 
ISavay Pictures) 
{Warner Brothers) 

( To u chstone Pictures) 
{Universal J 
( Universal Pictures; 
(Warner Brothers) 

( Holhmatl Pictures) 

( Twentieth Century-Fox ) 
(Twe nt i eth Century- Fox) 


*7.1 million 
S5L5 million 
*4 million . 
5X5 million 
S3 million 
*17 million 
*24 million 
*U million 
SL1 million 
M million 


s.'~: 

t-RIL .. 


WORLD STOCK MARKETS 



U.S. FUTURES 

Via AHOdoNd Prow 


Grains 


WHEAT IC0OT1 UBbuimun- aa> 
3.94V, log Mar *4 xn 3J3^ : 

172 uw M3V94 137 1371> 2 

X» 2.96 JUI94 3.23V, 125V, : 

TSr.% 3JT 5CU94 12S'1 127 W 3 

3-65 3 JOT DEC 94 133 135'6 3 

3565, 334 Mar 95 

3C J 6 111 All 95 122V, 122V, 3 

Est tales 7JM Ftfs. sates 5X11 
Frl’iDomhH 43.704 off 15* 

WHEAT (KBOT1 SjnbunaniuivNI 
19! J.» MOT9* 144V) 146V] 3 

179V] 194 MOVN 3J4V1 137 3 

335 7.97 JUI94 123 125 3 

335!i 102V,Sep9J 3J4V, U('4 : 

330 117*1 Dec 94 337 JJJ»* 3 

1016 13JV,Mor95 
Est sates NA Frfs. sola U 05 
Fri'soDeninl 77,394 on 679 
CORN ICBOT? imimiT>*nini-i«nr 
1 list. U2 VS Mgr 94 2J4V, 2X8 V, 2 

114'. Z38VjMny*4 7X3 7X7Vj 3 

116(7 7X1 JulM 2X5Vi 2.91 7 

1*7'« UOVjSeaVi 7.74 2J8'6 2 

7.7376 136V; Dae 94 16216 JM 2 

J.79V, 233 i> >Mar 95 148*, 2J1V, 7 

2X7 2691vMav95 JJ3 2755. 2 

7X3'* 7J0",*4 9S 2J5 7.77 7 

2 Ml-] 7.51 Dec 94 2X316 156 2 

Esl. sain 7DA00 Fri s ides 43AU 
Frl'sooernu 376.9QI ah 258b 
SOYBEANS (CBOTJ S4MM inlnlmum- 
7 54 SflPiMarM L74 4(8*, 4 

7.51 5.*3 , ‘,MOYW &J6 6.97 6 

7.50 5.9J^Jul94 t77v, 497 4 

7.35 628 Aug*4 671 6X6 6 

bX»« 617 5<»94 647 673 4 

7.57V, U5V>NO*T4 64* 1 45 6 

670 61flv,jon*S 454 6 6* A 

473*1 6X2 Mor 95 UO 67] 1 

4 56 6.53 Mart! 

4 7] 6J7"iXil W 648 675 6 

A 50' -? 5.81 V, No* 95 623 630 6 

S3 mm 70.000 Fr,X * ks 35.988 
Fr.-soMnlm 155X10 uo 966 

SOYBE 4 NMEAL ICDOTI IODhn%-tM 

737-Sfl 185-MMorM l*I_50 197X0 1' 

731 CO IB5-50MOV 94 19160 1*900 V 

7J0£D 190anjLH94 1*420 199-50 r 

?71M 119 J0 Aug 94 l*7.»l 1*800 V 

rmoo iaB.7as«w iti .20 woo n 

20600 187 10 Od *4 ITOiffl 194.50 11 

209.08 4.WDCC94 188-10 197X0 II 
200 00 18653 Jan 95 1*0.58 193X1 11 

1*400 1 17X0 Moras lei.w 1 71 SO I' 

MOV 95 

Eb-'.s<4« TSiOEQ Fn 1 *. sales 12X61 
Fri'saoenlW 85-800 UD 436 
SOYBEAN OIL ICBOT] uumoXn-AMr 


3X9*, ajwn-oxrvi 473 

3JW J-MH— O.uaib 14,199 
123 3-23 V, ,0X1 Vi 19X20 

125*i 3.75V, .0X1'* 3X» 
133 1345* >DAlVi 4X61 

3X7*. 1 0.02(4 3 

122 122 ,0X2 41 


MnmrlMlwl 

143 V, 143(9 -0X1 ‘6 1-343 
131*1 3J3V>-00IV9 9.906 
122*, 122V, -OWV, 11^29 
123Vi 174 2.934 

130 ’6 130V. .000 V| 1,235 
137 V, ‘OAO 1 * ID 


»0XS'4 2-144 

• 0X5 123X10 

• 0X5VI1I2J7I 

• OOSN. 25X63 

• 0.056, 58X70 

• D.fl&V« 3XM 

-005 

*8X5 I, M3 
-0X7*1 474 


snarbuM 
6 M *0.15*, 7X53 
690V. -OI5 65,115 
691 45XB0 

6X3V 1 , •AMO. 7X37 
iSD't, .A14'9 3X9* 
6.60 V, • a.14'11 77.148 
6*5 .013 2,156 

6.70V, -A1JV, 383 
6 J2 ,0.17*, 10 

6.77 • AM 7X 

6.77 -AIR 924 


' ISO 1149 
*150 33,788 
•Sul? 74-358 

• 530 7.07* 

• 670 5.678 

• 5.10 1036 

• 5X0 8.747 

• 5.40 *42 

*150 77 


1 Season Season 







H«JH 

Low 

Open 

High 

Low 

Close 

CUB 

Op.lltf 

IZJ8 

9.15 JUI 94 

1138 

1190 

17-34 

12X2 

• 004 3X981 

n XS 



1IJS 

1129 



11 X2 

9.17M0T95 

11.47 

11X8 

1101 

11X7 

• 001 1A937 

11X8 

10X7 MOV 9! 

11X3 

11X3 

11 J? 

11X0 

-002 

1-547 

1139 



11 x 2 

11X4 




1132 

10X7 Od 95 

11.40 

1104 

1106 

• AOS 

293 

Esl. sales 26935 Fri's. W*S 

25.957 




Fri’s Open irri 137X78 

uo 5043 





COCOA 

INCSEJ MirnMclatv-fPerlOT 





*53 Mar 94 

11*5 

1230 

1147 

1229 

► 46 

45 





11*4 


* 50 38-904 

1345 


1223 

7J7J 

1717 


*« 16074 

1377 

1020 SepW 

1283 

1294 

1237 

I2«0 

• 44 

8X28 

1319 

1041 DOC 94 

1278 

1322 

1J47 

1370 

*47 

6482 

1 382 

1077 Mar 95 

1305 

1340 

1307 

1350 

• » 

9.909 

1400 

llllMav?S 




1378 

• St 

5040 

1407 

1225 Jld 95 




1398 

• 59 

JX9I 

1350 

12)5 See 95 




1417 

•5* 

481 

13« 

1338 Dec 95 

1437 

1437 

1832 

1«0 

*59 

9 

Esl. sates 70011 Fri's. series 

6712 





Fits open trn 91,405 

Ilf 76 






ORANGEJUKE P4CTN) HJWta.-erufc.-Yfe. 



13625 


109X0 

109X0 

108-70 

10900 

—105 

324 

13500 

8900MOV94 11170 

11175 

111X5 

11X10 

-0X0 

8X57 

13500 

J 03X0 Jld 94 

114X0 

1 I6M 

11X80 

11655 

—005 

5.140 

134X0 

105X0 Sep 98 

11650 

11675 

11695 

11640 

-0X5 

2055 


10800 Ntw 94 

114.50 

11500 

114X0 

11X05 

•020 

7,258 



11500 

11500 

11670 



1X47 








Ed. safes 1X80 Fri's. soles 
Fri'sooenlnt 16955 UP 117 

730 






Season Season 
HWi Low 


Open Hfti Low Case dig OpJnf 


(91*0 197JQ 
I91J0 1*170 
190X0 19300 
18810 19130 
1W.OO 1*180 
1*1X0 19100 
193-50 


3075 71 I3MOT94 7030 2061 28.19 78.46 

30XS 7U0MOV94 7811 XU 78.11 78X1 

39 70 71-55 Jul *4 n 05 70X5 78X5 78X9 

7920 71 65Aua*4 37.75 78 70 77.75 77.*3 

n:* r40Scp*4 77 40 7 .'90 77.40 77.47 

i:m TJIOOUW 76*0 27.30 26*0 76*7 

7680 0*0 Doc 94 7450 76*0 76.46 76S7 

76X5 77 A5 Jon *5 fcJO 7**5 76X0 76X1 

76 35 XMUarti 76J5 2615 7635 

76)0 7SJ0MOV95 767S 

Ed. mles 18X90 FW-*. safes 14X28 
Fri's OKfl ml 97.58* cf! 7605 


Livestock 

CATTLE ICMER) troo-.-wKwrb 

07 7S 7320A«*4 77 00 77XS 76S! 74X7 

75X7 7125 Jun 94 71.80 74X0 74.15 74 17 

net 70 to Aug 94 730s not 7747 77.70 

72 M 71 07 Od 94 73X0 7170 73X2 73«5 

74 J) 72.15 Dec 94 7190 71*0 7170 7175 

74 H UXOFvOSS 7340 73X0 7U7 73X7 

75 10 TIJOAor 95 74 70 7475 74-70 74J0 

EM Mr 11.159 17X00 

Fei's oe-.-nlnr 86.046 an 618 
FEEDER CATTLE (CMERI «ah.-nmi*k 
85 35 79S7M4V94 81.77 81X4 1125 81.77 

85 00 7* 70 Apr 94 8145 *1 SO 80-75 80.17 

84 40 7-170Mu*9J 41 00 61X7 BATS 8A77 

IQ DO 79 54 Aug 94 8160 81.75 81X7 SIX) 

AIT) 7*40Spb*4 81X0 81 JO 80X0 8080 

81 34 79 JOOC1 *4 80 75 80.75 80X0 80^ 

DO. DO 77 45N3V94 8125 8124 8100 81.07 

8U 90 MX0Jm9« MM 80X4 80X0 0840 

Eil IJ69 Fn'v v*n BS7 

Fn -. aotninl 12.111 up 47 
HOGS ICMER) •tt*ro&.-tennp*T lb 
519? 3*.57 Acr 92 4667 4710 4660 46.97 

4677 4577X^1*4 51X7 S167 S327 

55 37 4* 30 Jul 94 57X7 4110 53 W 5347 

5140 4ti5Auo94 SITS SI 6* 51.75 51® 

29 75 0600cl94 47 Ji 4770 47X0 47X0 

•a SO 4532DK94 46DO 46*0 MX0 20x0 

SOM 4*. 70 FcP94 48^7 4910 4647 49 00 

48.AC «.90Aor*i 47.00 47.04 *8 40 46 85 

S1.SD SAID Jui95 5067 

E'J.-40C% 7.777 FriVidn 17.447 
Ffi MJprtiinf 30X59 ua 13 

PORK BELLIES ICMER) Mnn-nmwli _ 
til 90 Jf Ml Mar *4 5440 4290 54.80 S4 » 

*114) «IM<UIpv94 5605 4617 4420 55JB 

67 « J93DJKJ94 4620 4670 4287 44 13 

49 X) 47.00 Aua *4 54X5 4205 48 *0 4115 

61 15 3*.T0Fcfi94 58® SB95 STHS 42 5 

4790 ‘.OTSMwti 57 7Q 

61 00 59 .90 Mar 95 5850 

E4\ sakr 3X7? Ft,--, ioIps 1?0I 
FrTiopin-rf 9,123 UP 74 


>0X1 3X57 

• 0X4 31361 

• 0J0 21347 
■0 28 7,919 

• 026 7,725 

- 0-22 4.223 
•as 13X05 
•026 1X76 
*0.17 SS 
•0.27 3 


—023 36-973 
—0X0 74,381 
-02S 12.797 
-ai5 9X12 
-0.17 2-745 
•0X7 851 

— aio 97 


— A40 1014 
—O-U 2X88 
—653 7 *73 
—0-50 7X06 
—AS 364 
— A4S SO* 
—0.43 197 

—0X7 10 


•0X7 10X05 
1 All 1A720 
■0 15 1719 
• 077 7.7*5 
■ 0.14 IMtt 
■0.75 1.470 
■0X1 238 

I0J4 90 
•0X7 22 


-088 198 

—I 74 5,774 
—I 43 2+74 


Metals 

HI GRADE) COPPER (NCMXI IMNDi-aiihet-h 
107X0 71006*7 94 9AS0 9120 W)J0 91.10 

*0X5 7250 Apr 04 BUD *0.95 *0.50 *0.90 

10120 7lA0A6av94 7A75 91.15 93.10 90.70 

8970 76 10 Jun 94 90X5 

102.9S 74.30 Juf 9* B*)5 9020 89x5 90X0 

103-30 729QSBP94 B*X5 9AI5 B9J0 09.94 

101.90 7525 Dec 94 89X0 90 JO 89X0 89.90 

89.70 7690 Jon 95 9000 

99JH ?XTOF«JD*S 90.10 

9000 63. 70 Mar9S 9000 90X0 9AO0 9020 

09-80 7605MOV95 9AM 9AM 90X0 90X0 

*AM 7RX0 Jul 95 *01X0 

8820 7iJ0Aua*4 *0-00 

90X0 79. 10 Sep *5 *0X0 

88X0 75200095 89.60 89.60 89X0 l*.*a 

88X0 77.73 Nov 9S 89.90 

90.90 88X0 Dec 95 71.10 

Jor 96 71 J) 

Est. tales 7X00 FrT6 4afe4 11255 
Ffl-sonenlm 64X50 <■> 164* 

SILVER (NCMXJ l^Kl rm oi.- cnnnpr- km iu 
5565 3660 MarM 5390 549.0 5380 5442 

5365 SiaDApr 94 S4M 

555-5 371 0 MOV 94 53*5 5520 S3*0 5472 

5650 3710 Jul 94 5415 5560 543 5 5SIJ 

5615 376XSep94 569.5 5595 5485 S55X 

5»-0 3800 Doc 94 5530 5660 5510 561X 

5440 4O10JW195 5616 

577 0 4165 Mar 94 5610 571 J 5610 5682 

5840 4180 Mov *5 573.4 

5950 4HUJJU94 5770 5770 5770 5765 

5650 4930SCP9S 5817 

5860 5390 Dor 95 S*IJ 

Jon 96 591) 

Ed.udes 78000 Fri’s. ascs it, 577 
Ri’4 noon ei 111X94 up 1648 
PLATINUM INMCR1 Biro* af ■ MUnprrirwaj 
47650 235.00 Apr 94 405X0 40800 4D4JD J0S.90 

42000 J370OJUI94 48700 40*00 409 30 40670 

41100 348000a 94 407.50 41000 40*00 40720 

41100 37U0Jan95 40900 41000 40100 *07X0 

41400 39090 Apr 95 407X0 410M 407X0 MB.7D 

Est. safes 4.181 Fri's sales 7067 
Frfsapaitni 71006 up 681 
GOLD (NCMXI MHmoi.-MignMrknu 
37630 373X0 Mar 94 37640 37640 37*xg 38640 

41IJ0 .sKWAtrl* 386X0 388X0 386 W 38720 

39000 77650 MOV *4 JMJO 

417 70 STUB Jun 94 3(810 3902D 38680 309X0 

41500 381X0 Aug 94 3*1.10 197X0 J»l 10 391.90 

41700 14400 OcJ *4 JW60 7J54Q YH tO 394X0 

476X0 3a00DOC94 197X8 19620 3*650 397.10 

41100 363X0 Fed 95 3*9.70 401 OT 39920 400.10 

41700 36650 Apr 95 404.00 40400 4PK0 6X110 

478X0 311.20 Jim 95 40*J0 80630 80630 61600 

412X0 380X0 Aua *5 

413X0 410X000 95 41740 

«*J8> «IZOODCC*5 4I5XD 

ESI. safes 37-000 Fri-6 safes 45.317 

Frlsaw Irl 142.739 aH *771 


•A15 1858 
*0.05 1.1»l 
■005 37X35 

• AOS 843 
*005 9.949 
■Olb 3X97 

0-05 1726 

• 005 

• 005 

• aos IJ7& 

• ojh 

•AOS 

> 0.10 

• DOS 
•aio 
■AIO 

•005 193 

•005 


-68 70X29 
•60 17X11 
• 61 6100 
*70 8.937 

• 7A 

-70 5003 
- 7.0 1,944 
•70 

• 7.0 6* 

• 10 

-70 


-1X0 11093 
-140 1M 
-10 1.176 
-1X0 S3* 

-1XD SM 


1.10 

l.» 67.617 
MO 

1 ID 36.*!* 
I 10 647* 
1.10 4.154 
1.10 17.538 
1.10 1951 
UP 1UI 
1.10 109] 
120 

I X 458 
1X0 1773 


94X20 91X10 Sep 95 96140 961*0 94080 N.1I0 —30153X85 

96780 91,180 Dec 9S 93080 938M 93000 93080 —*0121039 

Esl. safes OA. Fit's, safes 451.704 

Fri's open Int 2.721060 up 37437 

BRITISH POUND (CMERI iDwmunt- imitBauifeUMOl 

1X314 1M00Mar94 1X9)0 1X980 1X9M 1X970 -37 30X63 

1X150 1.4474 Jun 94 1X940 1X744 1.4887 1X924 -30 26864 

1X980 1.4440 Sep 9* 1X900 1X910 1X8M 1X896 -30 627 

3«3J 1X500 Dec 94 1X878 —37 30 

Est. safes 1974 Fri’s. sides 16X17 

FrTsopenim 44084 art 5*1 

CANADIAN DOLLAR (CMER) iht*. i rNiti aauab MOOn 
00712 A7340MOT 94 0 734 4 0.7349 02338 023*5 16934 

0.7805 02333 Jun 94 0.7337 Q73S3 07335 023* *10 42028 

0.77*0 02321 Sep 94 02345 0.7345 A 7335 0739 *10 899 

02670 0-73 1 5 Doc 94 02325 0.7330 A732S 02328 *10 607 

02605 A73I5Mir 95 02310 02310 0.7310 02317 *10 152 

02522 0.7792 Jun 95 07305 *10 11 

Esl. safes 5X76 Fn'6S<Scs 13276 
Frl'S open** 58033 up 2047 

GERMAN MARK (CMERI Uk-nxn.lHMrqMviamr 
0X705 0-56*7 Mar 94 0X927 0X933 05927 05*94 —14 55X91 

0X133 05607 Jun M 0^ 0X903 0X878 0X890 -18 86492 

0X065 0X600 Sep 9* 0X870 0X880 0X867 0X873 —17 2-702 

0X9 M 0X590 Dec *4 0X860 0X863 0X858 0X865 —17 1Z7 

Esl safes *1.956 Fri's. safes 70.701 
FrTs open inr IJ7-*12 up 1164 

JAPA NESE YEN 1CMBD- ike, !»<«« maamm 

D.IB99300.00880aAMr 94 a 00951 60 00*516000*4480009451 -46 48053 

0009949)008871 Jun 94 OOO95l71Laa?gaoa)*427O0O945O —104 4SXD4 
0.»99000ll(»942SepM 0009XSB.DQ95480 WM8TO.OO9501 -104 ijffl 
000*81000096 1 7DcC 94 0009400000941100 009 537000*541] -104 3*1 

Esl. solas 71.770 Fri's. sales 79x14 
Fri’s cpen he 

SWISS FRANC (CMBI) l pr* km- 1 now ramt iooooi 


Financial 


COFFEE C INCSEI i’.UHr-."«i«*li 
TO T, *.l7HMar6l 78 IM 7*80 It SO 

TOXQ 4J26Mav94 7*80 81X5 77 XD 

a* W M 90 Jul *4 BUI 8T0D 81.75 

Hlyi ta»Sep94 87 68 84 00 87 J0 

71 J)0 2710DK94 M*i 83*1 

B/M *A.HMcr 95 HI B6J0 86 JO 

BSV 8 1 SOMar 95 U50 BtSO 86.50 

■ 5.00 » 40 Jul 91 

e-j -afes HJ/O Fn’i vtn fc*w 
Fii’SDPrn-m si. 189 on it? 
SUGAR-WORLD 11 INCSEI U7.«*«*n -rnh 
1710 J10MavV4 17 76 12.47 172S 


7 * 70 1 760 !*• 

81 4Q ■ 7x0 37.W6 

82 X 5 ■ 7 .M 8079 

8195 .!« VM 

8500 • 7 J 0 J. 5 W 

8190 • 7 J 1 1 . 0*5 

■690 ■ 3JO III 

8790 iJJD I 


1224 1 006 61761 


US T. BILLS (CMERI limuiian- pnorlaDBei 

96-76 94 07 Am *j “1*11 9411 9405 9607 — OBJ 31094 

um nJ1 9S ’ 74 K ” * Sl,J — TUK 4 JI 9 * 

*610 *LHg £ « -001 7.995 

Es). safes 5.109 Fri-s.saies 5.716 
Fel'sDPMIM 40X70 UP 1004 

5 tk. Tk fc AOIRV ICBOT] tiSLftliipi-i. oh 4 Bndidi IDOpci 
1IX15M-0B5 Mar 94IE-HU 108-185 I0&SS IMriiS- of 4S0I4 

HtSSs SL'il issw'-ww-i* 107-145 iolUIToSI 

110- 1*5)06-79 Sep 94 106-744- DU 41>. 

Esl. sales 44X00 Fn’s fen S0JIS 0M ^ 

Fri’s own kn 703.990 uo »*S 

II YR. TREASURY (CBOTJ ino uca 

114-0* 108-00 Mar94ID9-70 104-71 109-0] io*-ID — 05 54 17S 

j I Ml Jun 94 in* 16 100-27 IQft-iH 100-09 ru 

!!«' W-M SCPW'DIXI 107-71 KWl ft 

I!MI Dec *4 107-07 107-07 104-73 106-25- M 74 

111- 07 10041 Mar *5 dTo7_ S , 

&J. safes 7S.717 Fii’s safes I 1 S 01 S 04 7 

Fri stmetilnt 7*5X74 up 373* 

USirteASURY BONDS ICBOT) «— r-.if. m ■ nnmn, 

N+9 Mpr *4101-31 110-08 101-17 I04-73— 07 nnu 

[1*-W ri-oa Am *4 108-30 104-10 108-0* 108-71 — n 155 .SS 

1 18-74 90-12 Sep *4 108-09 IDP-II 107-14 loTis— M 

II 8 -N 91.19 Dec 94 107-77 |Q|.» ioJ.j, iv. Air S 

HMS'Si! N^F’llM-Oa >06-15 1 04-07 104-15 - 08 ^IM 

:£!! IS5*-" “ £S= s 1 

IIJ-14 104^3 Dec 95 H 13 

|a sofei saum otrs-jam. s*t.m v 

FN 5 own All 475X41 up I BOO* 

sSTOBWwmsr-r.* 

10+07 *4+19 Jun 94 95-08 (Ho 94-16 oJ-W - 4 n'Ss 

EV 50*5 6 MX) Fn-iuiei I7J4J 73 MS 

Ffi’s open let 13,53* UP 659 
ElKOOCLLARS ICMER) UWh-. B i, l4 | M „ , 

•4250 TO 380 Mo* 7J *4140 *4.140 94 1» nm 

2!S ass/"" nu ° W «0 «4M ={nS‘S 

91J70 MJU'auN 95 740 V5JM *5 7*n ISSJtS 

*5190 TO710Dee*4 *4840 *4xn 94 mo IlitS — 

H9TO TO 740 Mew 95 *4630 94 *H Hfe "mS'JJl 

W/M TO/10 Am *1 94 380 94JB0 94* WOW iSiSm 


0.7195 0X500 Mor 94 0.7025 A703G 02007 02004 

A 7087 0X590 Jim 94 02070 02D26 04944 0X967 

Drew. 0X600 Sep 94 0-7006 02010 0X950 0X972 

07105 OXMJDecU 02070 02370 0X885 0X990 

Est. safes 21X48 Fri’s. s«es 29X35 
Fri s open inr 54X84 ofl 395* 


Industrials 

COTTON 7 (NCTN1 uanmi-cnnpc-A 
79JW 57X7 Maw 94 78X4 76X0 7527 75.97 

10 15 58J0JUI94 77.10 77 J5 7 UK 7427 

7645 59XI0O9* 75x0 2525 74.95 7520 

74.00 57X8 DOC W 7115 7125 7160 7125 

74x0 62-50 Mir 75 7400 74JM 7155 73X0 

7500 44.00 May 95 74X0 7668 78X0 7425 

76.00 70X0 Jul 75 75X0 7 5 00 3475 74X7 

Esl. safes 14X00 Fri's. safes 9.734 

Firs ooun inr 51870 ua 144 
HEATING OIL (NMER) mafe-omn-fe 
» 75 47X0 Apr 94 4325 43X5 4105 8136 

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INTERNATIONAL HERALD TRIBUNE, TUESDAY- MARCH 15. 1994 


Page 15 


EUROPE - 


Railroads Plan 
To Sue Over 


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The Associated Pros 
PARIS — French and British 
railroad officials said Monday that 
they would seek compensation for 
losses resulting from the delays in 
starting freight service through the 
yet-to-open Channel T urnip 

Eurotunnel SA, operator of the 
timnd, had hoped to begin freight 
service March 7. But the start-up 
has bees’ delayed indefinitely, as 


Ifio 


Sussuki Striving 
To Save Plant 

The Associated Press 

MADRID — Suzuki Motor 
Ca wiD uy to avoid dosing its 
Santana Motor subsidiary. 
Spam s industry minister, Juan 
Eguiagaray, said Monday. 

The minister said the Japa- 
nese amnmalfw had agreed to 
maintain its 85 percent stake in 
Santana for the time being and 
said Spain’s central and region- 
al governments would increase 
their funding as welL 

He gave no details on how 
much the government or Su- 
znki would be investing, and be 
indicated that Suzuki still 
would seek to cut about 1,700 
of the 2^00 jobs at three plants 
where Suzuki four-wheel-drive 
vehicles are assembled 


• has the start of passenger sendee, 
which initially was expected to be- 
gin in early May. 

Alain Poinssot, director of 
freight operations for SNCF. the 
French national railroad, said the 
delays were causing financial losses 
for his company and British Rail 
He also said the uncertainty over a 
start-up date was creating mistrust 
and impatience among clients of 
the two railroads’ freight services. 

Mr. Poinssot, joined at a news 
conference by his British Rail 
counterpart, Ian Brown, said the 
amount of damages to be sought 
would be determined by lawyers 
for the two railroads. 

Eurotunnel already is engaged in 
a legal dispute with the railroads. 
The tunnel's operating company is 
seeking to compensate for the soar- 
ing oast of the project by raising the 
previously agreed fees that the rail- 
roads would pay for use of the 
undersea tracks. 

Eurotunnel characterized the 
planned action by the railroads as a 
counterclaim to its action against 
them. “It's really a jockeying for 
position,” a Eurotunnel spokes- 
man, Robin Swinbank, said in 
London. “Our claim is certainly 
higher than theirs.” 

The official inauguration of the 
tunnel is set for May 6, but Euro- 
tnnnel has indicated that passenger 
service will be delayed for at hast 
several weeks after that date. 


An Instant Bourse, Just Add Stocks 

Kiev’s Empty Market Awaits Privatization Listh 


By Jill Barshay 

Net* York Times Service 

KIEV. Ukraine — What if you had a stock 
exchange and nobody came? 

For the last two and a half years, Ukraine’s 
market has been dressing up in high-grade 
new technology. A million dollars' worth of 
gleaming IBM computers line the rows of the 
exchange’s trading hall, where, in ibeoiy, 
shares can be electronically traded within 
seconds by mod (an from any village, no mat- 
ter how remote. 

An investment of more than $5 million, 
most of it from France, has transformed a 
building that once housed a school for Com- 
munist Party officials into what might be a cut- 
ting-edge bourse, with technology that would 

be familiar in New York, London or Tokyo. 

There is a problem, though: So far. there is 
virtually no financial market. Only two stocks, 
a shipping company and a bank, are traded on 
the computerized system, for less than an hour 
each week. About 10 other slocks trade by 
hand elsewhere in the building. 

Meager activity is hardly unknown in the 
fledgling stock markets or Eastern Europe. 
The stock exchange in Hungary reopened in 
1990, 42 years after the Communists closed it, 
with one listed company, a travel agency. By 
the end of 1993, there were at least 25 listed 
shares in Hungary, though a year before that, 
Budapest was difficult terrain for stock. 

A lively exchange in Poland trades in fewer 
than two dozen stocks. Russia's 57 exchanges 
now offer more than 1,000 stocks. 

Ukraine seems to have deeper problems 
than some of the other former Soviet-bloc 
countries, and these are reflected in its stock 
market. While Russia’s state companies are 
privatizing at the rate of 900 a month, creating 
new securities, Ukraine has yet to begin selling 
its state companies in earnest. The two compa- 
nies listed on its electronic exchange were 
privatized by special presidential decree. 


Beyond that, start-up private companies in 
Ukraine are reluctant to go public for fear of 
having to open their books. Succeeding in 
business sometimes means dodging or defy- 
ing layers of rules and regulations left over 
from the time of the Communist government. 

When President Leonid M. Kravchuk 
came to see the computerized stock exchange 
last month, he described it as “a barometer of 
the national economy,” producing an unwit- 
ting double-take. 

In fact, Ukraine is better known these days 
for its rampant inflation, perilously low cur- 


Ukraine's electronic 
market lists just two 
shares, while about 10 
others are traded by hand. 


rency reserves and unproductive, debt-ridden 
state factories. 

“If we’re a barometer of the economy, the 
government has a problem,” said Valentin 
Oskolsky, the Ukrainian stock exchange’s 
chairman. “We're waiting only for privatiza- 
tion and nothing more.” 

Privatization could yet invigorate the Ukrai- 
nian market Pa rliamen t's latest program calls 
for selling 8,000 state enterprises — 28 percent 
of the total — by the en d of this year. 

As part of a $30 million proposal by for- 
eign aid donors to make privatization a reali- 
ty, the U.S. Agency for International Devel- 
opment wil] lead an effort to print the 
privatization certificates for 52 milli on 
Ukrainians and establish bidding centers in 
each of the country’s 24 regions, where peo- 
ple can deal in the certificates. 

But the government will be under pressure 


III UK 


to streamline the bureaucratic process to get a 
state enterprise readv for sale of shares. 

The Ukrainian exchange was set up with a 
French government donation of $43 milli on 
in software and technical assistance in 1991. 

“At the time, everybody thought that 
Ukraine would have a fast development to the 
market and be the most im p ort an t country” in 
the former Soviet region, said Philippe Pegor- 
ier, France's commercial counselor here. 

“We were very excited and we were betting 
on the future. Bui now we are disillusioned. 
No one thought things would go so badly 
here — hyperinflation, no privatization. How 
is it possible for a stock exchange to work 
when there is no economic reform?” 

Without privatization or other large-scale 
movement toward a market economy, the 
Ukrainian stock exchange waits for a trickle 
of state concerns, such as Uknicfaflot Shi 
ping Co. of Odessa, to be sold, one by one, 1 
executive decree. 

“It’s just a game right now; the sums are so 
low it's funny,” said Dmitri Sapunov, one of 
40 traders using the electronic ML “But it’s 
good to practice techniques, to learn how the 
mechanism works.” 

Mr. Sapunov — who dresses like some- 
one’s idea of slick American stockbroker, in a 
green suit and flashy silk tie — represents 
Comcx Inc. Comex started as a small import- 
export company four years ago and ire 
grown into a conglomerate of 19 concerns, 
including a brokerage bouse. 

Like some other brokers, Mr. Sapunov is not 
happy with the electronic system. “There's not 
a pe rmanent supply and demand,” he said. 

The 52 brokerage firms trading on the older, 
noncomputerized stock exchange have resisted 
switching because some brokers are uncom- 
fortable using computers and prefer bargain- 
ing face to face. Beyond the one hour a week 
when that hall trades its 10 stocks, h is given 
over to a random antiques or art auction. 


Investor’s Europe 


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Sources: Rooters, AFP 

International Haald Tribune 

Very briefly: 


• European Union negotiators will meet in Tokyo on Thursday with 
Japanese counterparts to try to hamme r out a ceiling for Japanese car 
exports to die European Union in 1994. 


• Royal Gist-Brocades NV, the Dutch biochemicals company, said profit 
rose 30 percent, to 135.1 million guilders ($72 million), in 1993 due to 
higher returns on pharmaceuticals and one-time gains. 

• Costain PLC said it posted a pretax profit of £68.7 million ( 103 million) 
in 1993, following a loss in 1992 of £204.6 million, and cited the sale of its 
Australian coal business. 

• France’s industrial production was marked by a “good tendency” in 

February for the fourth straight month, according to a monthly business 
report issued by the Bank of France. AFP. Reuters, Bloomberg ap 


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EDUCATION DIRECTORY J 

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By Jacques Neher 

International Herald Tribune 

PARIS — Europe is preparing to test key 
dements of an dectromc-infonnatkm super- 
highway, but industry leaders say a fully opera- 
tional system will never be buflt unless national 
governments end their telephone monopolies 
and toss out their regulatory ratebooks. . 

At stake, they say, arejobs for unemploymcnt- 
plagued Europe, and the prospect of Europe 
falling hnpdesTy behind the United States in the 
multibfllion-donar race to develop a state-of-the- 
art electronic network for homes and offices. 

But regulators seem unwilling to go that far, 
suggesting that national and European “high- 
way patrols” will be required to ensure that 
operators and providers of multimedia services 
play fairly -&&d yidd to political pressure to 
make thesr offerings affordable for aB, just us 
the telephone is today. 

“It’s better to tear up the rules and let it 
happen,” Iain VaDance, chairman of British Te- 
lecam PLC, said at a recent industry gathering in 
Paris. The very logic of an international informa- 
tion superhighway, be insisted, would be under- 
mined by imposing national regulations. 

“If Europe doesn't get a grip on this, h will 
fall further and further and further behind the 
United States and Japan,” he said. 

The call for a free and open telecommunica- 
tions market is gathering steam just as 17 public 
telephone companies in 15 European countries 
are about to test an integrated broad b a nd net- 
work designed to control tra n s m i ssi on and deliv- 
ery of high-speed data, voice and video data. 

The tests, to begin by summer, are expected 
to involve businesses that might use the system 
for high-quality videoconferencing or transfer- 
ring large quantities of information. 

Budding a multimedia network is expected to 

cost Europe hundreds of billions of dollars. But 

industry leaders say investors would not be 
attracted to such a venture as long as European 


telecommunications companies — the likely 
operators of such a highway — are protected 
and constrained by regulations. 

They seek freedom to make alliances, to go 
after cross-border markets and to let supply 
and demand determine prices. 

Voice telephone services in the European 
Union are to be opened to competition by the 
start of 1998. But there has been no agreement 
about freeing the market for infrastructure 
items, and none is expected in the next few 
years. As a result, national operators are guar- 
anteed monopolies in their home countries and 


( if Europe doesn't get a 
grip on this, it wffl fall V 
further behind the United 
States and Japan.' 

Iain YaUance, chairman of British 
Telecom PLC. 


are prevented from laying cables in markets 
beyond their frontiers. 

In addition, under current regulations, tele- 
communications services must be priced ac- 
cording to the cost of delivery, rather than to 
what h might be worth to the customer. 

Carlo De Benedetti, c hairman of Olivetti 
SpA, said that u nless it makes a drastic break 
from its national monopolistic tradition, Eu- 
rope will be sabotaging its brightest hope for 
fighting unemployment 
“The only tiring which unites Europe today is 
unemployment” ne said. “Europe cannot com- 
pete in low-value products anti labor costs. It 
has to compete in activities based on knowledge 
and professional skills." An information super- 


highway, he raid, would facilitate development 
of snch activities — but it canno t be buflt in 
today’s regulatory environment 

“People have to realize that out-and-out de- 
fense of nonmarket conditions in the communi- 
cations industry will benefit no one and penal- 
ize everyone,” he said. “The monopoly 
environment is our weakness.” 

Before investors will help build a multimedia 
network in Europe, the industry leaders said, 
telephone companies that transmit and orga- 
nize the flow of data through the system will 
need freedom to charge what the market will 
pay for their services. 

Mr. Vallance said operators of such systems 
should be able to charge according to the value 
of the information that is passing through their 
networks, rather than by current “cost-accoun t- 
ing” restrictions, which require the operators to 
deliver services based on the actual cost of 
transmitting data through the system. 

“If I dig up a nugget of gold and have to hand 
h over for the price of digging h up, is that 
fair?” he asked. 

In the case of a multimedia network, industry 
proponents argue that operators and “content 
providers” should be able to charge much more 
for a blockbuster movie delivered over the sys- 
tem than for a classic from the archives or for 
two hours of electronic browsing through an 
interactive encyclopedia. 

But investors’ need for value-based pricing is 
tikdy to conflict with demands by European 
governments that all citizens have economica] 
access to the system and its services. 

“The real question is whether an information 
superhighway should be considered a universal 
service, to be affordable to everyone, or wheth- 
er it should be viewed as an extra, like mobile 
telephones," a telecommunications policy offi- 
cial at the European Commission said. “There 
wiD be a lot ot political pressure to make it 
universal and that means price controls.” 


• L.v.‘ r : " - 


Revenue Surge Lifts 
Outlook for Schering 


AG, the 








Reuters 

BERLIN — Scfaeu 

German phannaceuth 

: ny, predicted Monday that 
£ would rise by more than 10 percent 

\ in 1994 and earnings would at least 

equtf the results oT 1993. 

■* The company said that unex- 
pectedly strong demand abroad 

.. had pushed sales up by 21 percent 

in Jammy and February, promp t- 
ing it to raise an earlier prediction 
that revenue would rise 6 percent in 

1994. 

Klaus Pohle, the company’s 
chief financial officer, said that 
■ : Sales ixJ Januaty and February had 

■ sw®e d 65 percent in the Far East. 

■ 44 percent in Latin American ana 

• 39 percent in the United States ra 
„ January and February. But he not* 

T ed that growth had ooly been tnoo- 

est in Germany, where sales 
efimbed by 2 percent. 

Hb said it was difficult to make 
cuocrete forecasts abont profit 
1994 as a result of considerable 
. : start-up costs related to Bet asero n, 

• \ its new multiple sclerosis treatment 

/ “Group results will be a t leM as 

■ Wgh as m . the previous year, he 
’ said. “But that too may be morcof 

an understatement,” 

The company posted profit ot 
254 milHon DM in 1993. 

' “The figures lot* very good, sai d 

■ .Petra-Zamagna, an analyst at DoU- 
-'xhe Bank’s DB Research, who 

along with many analysts bad ex- 
pected a rise in rales in the first two 

■ months of 3 percent to 5 perc® L 
“Fan of the gain may be due to 

barf 


ScN*ring warned that ref onus in 
health care throughout the world 
and intensified competition were 
putting pressure on prices and that 
this would weigh on profit. It also 
noted that a cut in federal govern- 
ment subsidies for companies lo- 
cated in B«im would also have a 
negative impact. 

Schering said that Betaseron 
would not make any notable con- 
tribution to profit in 1994. Giu- 
seppe Vita, Schering managing 
hoard chairman, said that the com- 
pany was experiencing start-up 
problems with Betaseron m the 
United States but that he was still 
confident that sales would rise to 
300 mflfion DM this year from 7 
million DM in 1993. . 

Introduced in the United States m 
1 993, Betaseron is used to treat mul- 
tiple'sderosis patients suffering an 
intemuttentfonnof thccSsease. It is 
so far the only treatment for the 
debilitating disease, and analysts ex- 
pect it to boost Schering’s earnings 
sharply over the next yeara. 

Mr Vita said that even if a new 
multiple sclerosis drug from 
Hoechst AG, one of Sdiering^s 
chief rivals, proved effective, it 
Snot be on the matket until 
1997 at the earliest 





-- imuuu duuj ii strong . — » . . 

Dopke, an analyst at M-M* 
Warburg in Hamburg. He added 
[bat pjpju had probably risen at 
kas as sharply as sales in the nrs 1 
^ months. 


Claims Against 
THE 

United States 
Government 

PACE and ROSE 

ATT opNEWAWCOlWSaOW 
#ASt«NOTON A C 

ISOSl T79-iW* 

PARIS 
4d 3S 19 41 
LOS ANGELES 
latCl 277-2000 


ASIAN CAPITAL HOLDINGS FUND 

20, Boulevard Emmanuel Servais 
L-2535 LUXEMBOURG 
RX. B-43IOO 

NOTICE TO THE SHAREHOLDERS 

Further to the Board Meeting dated May 26th, 1993. the 
Directors approved the change of the Depositary Bank. The Board 
resolved to ratify the termination of the agreement with BANQUE 
PRIVEE EDMOND DE ROTHSCHILD SA* Luxembourg Branch 
and to approve the agreement to be concluded between the 
Company and BANQUE DE CESTION EDMOND DE 
ROTHSCHILD LUXEMBOURG. 

As per the Articles of Incorporation dated March 8th, 1993, the 
Corporation had an authorized capital or USD 30.000.000 to consist 
of 6.000.000 authorized shares of a par value of USD 5,- each. 

Further to the decision taken at the Extraordinary General 
Meeting dated July 19th, 1993, the authorized capital was increased 
by USD 20.000.000 raising it from its previous amount of USD 

30.000. 000 to USD 50.000.000, by the issuing of 4.000.000 
authorized shares of a par value of USD 5,- each. 

Further to the decision taken at the Extraordinary General 
Meeting dated October 12th, 1993, the authorized capital was 
increased by USD 20.000.000 raising it from its previous amount of 
USD 50.000.000 to USD 70.000.000, by the issuing of 4.000.000 
authorized shares of a par value of USD 5,- each. 

Further to the decision taken at the Extraordinary General 
Meeting dated January 21st, 1994, the authorized capital has been 
increased by USD 20.000.000 raising it from its previous amount of 
USD 7a00a000 to USD 90.000.000, by the issuing of 4.000.000 
authorized shares of a par value of USD 5,- each. 

Therefore, the Corporation has an authorized capital of USD 

90.000. 000 to consist or 18.000.000 authorized shares of a par value 
of USD 5,- each. 

Consequently, the Board of Directors asked the Registrar and 
Transfer Agent, BANQUE DE GESTION EDMOND DE 
ROTHSCHILD LUXEMBOURG, to proceed with the stamping of 
outstanding certificates. 

Therefore, the shareholders of ASIAN CAPITAL HOLDINGS 
FUND are cordially invited to remit on or after the March 15th, 

1994 their certificates to BANQUE DE GESTION EDMOND DE 
ROTHSCHILD LUXEMBOURG, 20 Boulevard Emmanuel Servais. 
L-2535 Luxembourg {the Registrar and Transfer Agent), which will 
then stamp the share certificates. 

Only the stamped certificates will be valid for delivery on the 
Ijjxembouig Slock Exchange and the Amsterdam Slock Exchange 
from April 15th, 1994. 

FortheCoapaavi 

BANQUE DE GESTION EDMOND DE ROTHSCHILD 
LUXEMBOURG 

20, Boulevard Emmanuel Servais 
L-2535 LUXEMBOURG 




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- Research and CVvek<p<nriU. 

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■ The Utta- Anrao onivemus. 

■ Universities and society: 
imcnfcm and nollki. 

• UnNnsSlK and ndtere 
tot ksulkm mJ omvetaBly. 






to rone MbraalJeD : Croupeon SruJeffi Fan 

be de la CaMne 0b • B-1000 Bneseb ■ Mparro • Tel: 32/2/S 14 40 *0 - Fat 32GSI4 48 18 


SCHILLER INTERNATIONAL UNIVERSITY 

International School of Tourism and 
Hospitality Management 


LFQND.ON 


StTtRWSB.O. U RGU IE If OR! D T A 


Study for a rewarding career 
in TOURISM and HOSPITALITY 

★ Programs leading to Associate, Bachelor and 
Master's degrees in Hotel Management and 
International Hotel & Tourism Management. 

★ Diploma Program in Hotel Operational Management 

★ Hotel Management Term Abroad Program. 

Intensive academic and practical instruction with the 
uniqua opportunity, depending on program, of dividing 
studies between the European and Florida campuses, 
with English as the language of instruction. 


SCHILLER INTERNATIONAL UNIVERSITY ,.v 

International School of Tourism and 
Hospitaliry Management 

Dap! HT.TH. 51-55 Waterloo Road, London SE1 STX. 

Tel: 1071) 928 8484, Fax: (071) 620 1226. Telex: 6312433 SCOL G 


An American ireversty KJy accredited By tfie ACTCS. Wa shin gton DC. USA 




jW 



AUSTRIA 


INTERNATIONAL BOARDING 
SCHOOL IN SALZBURG 

Salzburg International Preparatory School offers a challenging 
coed American college prep & International Baccalaureate 
curriculum for students aged 12 to 18. Fully accredited. 
Excellent university placement record Intensive English 
courses aid non-native speakers. Boarding enhanced by 
extensive sports, recreation, culture and travel programs. For 
full information please contact: 

Salzburg International Preparatory School 
Moosstiasse 106A, A-5020 Salzburg, Austria 
Tel: (662) 824617 - Fax: 824S55 - TWex 632476 


Executive Programme in Scandinavia 
for Senior Marketing Managers 


A swrmer pmgnBMe in JutWAugust 
at the heaurifjl Engsholm Castle, in 
the Sockholm iwhiptlago. 

You area senior executive m charge 
of marketing. You need new cbaBeoges 
and fresh ideas io develop yonr burinccs 
and improve customer arirfmi o n . 
to cooperation with Ashridgc Managc- 
rocni College wc are now able io offer 
you a two-week stale-of-the-art pro- 
gramme in marketing. This programme 
will enable you to exchange ideas and 


update your knowledge of auieni 
techniques in international marketing 
and manageroenL 


The Programme will provide: 

> A thorough understanding Of IhC new marketing concept 
focusing on the TQM approach. 

■ A real confidence to apply new approaches io marketing. 

■ An ability to develop and implement new marketing strategies 
in order tu create a competitive advantage. 


a/t aj 


IHM 

ANAGEMENT 
ENTER 


fpteass apply for more information! 

j Name 

. Company — 


TeLNr. 


. Fbx.Nl . 


Send to: Mil MANAGEMENT CENTER. Box 300135-104 25 StockhoJfTLSwedfifl 
Tele Nr. +46-8-656 00 45. and ask tor Iffl Thome. FaxNr. +46-8-656 78 51 


I 


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ADVERTISEMENT 

INTERNATIONAL FUNDS M * eh14 ’ 1 " 4 

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iv ChmC [Global Band) S ILDO 

wCtoss PI Ecu Bondi Fen 11.11 

JARDINE FLEMING , GPO Box 11441 Ha Kg 

d JF ASEAN Trust S 17X1 

it JF For East WmtTr S 300 

d JF Global Cam. Tr S 1S.U 

a JF Hong Kong Trust S 20J1 

d JF Japan Sm. Co Tr Y SOOVM 

d JF Japan Trust Y 13I27JB 

ti jf Malaysia Trust .. A ZUH 

dJFPociflcliK.Tr S 1274 

d JF Thal ljid m ra S 3&A 

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w Goveti Mon. Futures ( 1145 

w Govetl Man. FuL USS S Ol 

wGavettS Gear. Curr S I1M 

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d Regent GM UK GrttiFd S ).*m 

w Regent Moghul FdLM s lftM 

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d RG America Fund n 15010 

d RG Europe Fund fi 133JO 

d RG Pacific Fund FI 14140 

d RG DMrtntr Fund FI 54JD 

d RG Money Plus FPL FI 11230 

IT RG Money PlusFS S 1QM* 

tf RG Money Plu*FDM___DM HUB 

d RG Money Plus F SF — _$F 106,19 

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ivDalwa LCF Rothschild Bd-S 101164 

wDahenLCF Rothsen Eq S 1I43JT 

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>v LevmoM Cop HoUlnes ( 4X97 

d Prl Challenge Swiss Fd—SF I15XM 

0 Priequlty Fd-Eurape Eca 117750 

b PrtanXtv FtHWwtta SF 114594 

0 Priequlty Fa-La!ln Am— 3 1MJ82 

b PrOxmd Fund Ecu Ecu 121104 

b P riband Fond USD S II3-U7 

0 PrflMfld Fd HY Enter MklsA IT7JC 

wSNcctfve Invest SA S 379A44 

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"■l-lram t 2621 Ji5 

ur LevmoM Cop HoUlnes S 4197 

0 Prl Otodenge Swiss Fd—J5F 115X64 

0 Priequlty Fd-Euraoe Ecu 117756 

b Prleoidlv Fd+Wwtta SF 114594 

b Priequlty Fd-LoDn Am— S 144782 

b Prfcnd Fund Ecu Ecu 12104 

b P riband Fond USD S 111447 

b Prflxjnd Fd HY Emer MklM IT7J47 

iv SeiccHve Invest SA S 379A44 

b Source t 1B54850 

Hr US Bond Plw S 99SL710 

wVertoolus Era I1SU9 

ROTHSCHILD (GROUP EDMOND DC) 

OTHER FUNDS 

d Asto/Jasan Emerg. Growths I7J9610 

nr Esprit Eur Perm invTst— Ecu 144&S9 
Hr Europ Strcdeg Inveslm fd _Eai TOMW 

0 Uite un d Futures S 105120 

b Oniigest Global Fd General DM 19L2M 

BOpHeest Global fu income DM 171 Jll 

d Podflc Nics Fund % «5I 

wPermaldraUor Growth NVS 3S6U7 

1 Selection Hartzsn FF B1Q587B 

B VkODtre A/lonv S 312074 

ROTHSCHILD ASSET MGMT (CJ) LTD 

mNemred Leveraged Hid S 07851 

SAFDIEOROUP/KEY ADVISORS LTD 
mKoy DtversHled lac Fd LHA 1166802 

SAFRA REPUBLIC HOLDING 

w RamWic Gam j 

w Republic GAM America S 

w Rep GAM Em Mkts Global J 
iv Rep GAM Em MUS Lai AmS 
w RepUHIc GAM Europe SF _SF 
w Republic GAM Europe USSA 
w Republic GAM Grwltl CHF-SF 

w Republic GAM Growth I i 

w Republic GAM Growth USSA 
iv Republic GAM Opportunity S 

w Rnwblic GAM Pacific I 

w Republic Gnsvy Del >nc A 

w Republic Onsev Eur Inc— DM 

nr Republic Lot Am AUac- I 

iv Republic Lot Am Argent— ■ 

w Republic Lot Am Brazil s 

nr Republic Lot Am Mexico— S 

nr Republic Lot Am Vznez. % 

nr Reo Sotornon Strut FdUd-A 
SANTANDER NEW WORLD IHV. 

m Commander Fund S 104.759 

m Explorer Fund s man 

SKANDINAVISKA ENSKILDA 8ANKEN 
5-E-BAN KEN FUND 

if Eurapa Hie— - — S UQ 

d Ftarran (Mem Inc S S5S 

d Global Inc S UM 

d Lakamedei Inc 5 UB7 

a voriden me. s jjb 

d Japan me— -Y 99 J? 

d Mlflo inc t 155 

tf Sverige Inc Sek UL83 I 

tf Nardamerfka Inc— — S 15! 

tf Teknolael Inc s 1.13 

tf Sverige Rantefand Inc Sek 1042 ' 

SKANDIFONDS 

tf Equity Inn Arc S 17J1 . 

tf Equity Inn Inc S MM 1 

tf Equity Gtobod S 1JS , 

tf Equity Not Resources S Ut 1 

tf Equity Japan Y 11L66 ! 

tf Equity Nordic S 144 

tf EqaitvUX I 143 . 

d Equity Canttnentat Europe^ 1-71 | 

tf EauHv Metf Hen oneow— — » 1X1 ; 

tf Equity North America A 114 

tf Equity Far East. - a 474 

d inti Emerg mo Markets s 141 | 

tf Bend Inti Acc S 1153 , 

d Band Inti Inc % 7M i 

d Band Europe Acc S 141 

tf Bond Europe Inc S 059 : 

d Bond Sweden Acc Sek 1771 , 

d Bond Sweden me — Sek ILII i 

tf Bond DEM ACC DM 179 

tf Bond DEM Inc DM 056 . 

d Bond DalkT US Acc t 141 

tf Bond Dollar US Inc S 1417 

d Curr. US Dollar % 1A5 

d Curr.SwedWi Kronor —flak 12J0 

SOCIETE GENERALS GROUP 
SOGELUX FUND (SF) 

WSF Bonds A UAA S 1456 

wSF Bonds B Germany DM 3221 

wSF Bonds C France FF 1337S 

wSFBondsE&B C 1260 

iv SF Bonds F Japan Y 230 

wSF BandsG Europe Ecu 1873 

WSF Bonds H WOftd Wide S 1860 

wSF Bonds J Belgium BF M2JJ0 

n> SF Ea.KNw1h America— s 1879 

w SF Eq. L WJEurope ECU U56 

wSFEuMPacWcBialn Y 1597 

wSFEaP Growth COuntrtm 5 1845 

wSFEa.0 Gold Mines s 33J» 

wSF Eq. R Worldwide 1 I6JQ 

w SF Short Term S France. — FF 169X362 

wSF Short Term T Eur Ecu 1436 

50DITIC ASSET MANAGEMENT INC. * 
w SAM Brazil S 21X03 

w SAM Diversified % -134.1W 

nr SAM/McGarr Hedge S 11X52 

w SAM Opportunity— 4 127JB 

m SAM Strategy ... — » 12156 

m Alpha SAM S 13X52 

« GSAM Composite S 347-56 

SR GLOBAL FUND LTD 

mSR European s 9659 

mSR Asfcn % 10099 

mSR Internal tonal — S 9777 

SVENS KA HANDELSBAMKEN SJL 
146Bddeto Petrusse, Lr2330 Luxembourg 

b 5HB Band Fund 1 54X1 

wSvensfeaSgL FdAmorSh— S 1556 

w5vmskaSeLFd Germany — I 11J0S 

wSvenska SeL Fdlltfl Bd5hJ 1243 : 

wSverakoSeL FdlnnSh S 5971 J 

wSvenska SeL Fd Japan Y 402 i 

nrSvansfca5eLFdMitl-Mkt— Sek 116.12 i 

wSvcnskaSeLFdPacMSti— * 748 ; 

w Svenska SeL Fd Swtd Bdt—Sek 143950 

w Svensko SeL Fd Sylvto 5h _Ecu 149232 


0 Universal Fund — af 12139 

tf Yen Bond Selection —__Y 1179136 

TEMPLETON W.W1DE INVESTMENTS 
GROWTH PORTFOLIO 

tf Class A-l ,.t 1X2B 

tfCtouA-2— % I7J8 

tf OCBSA-3 t 15.18 

tf Ctoa 8-1 i 1239 

tf Dart B-I 4 1679 

INCOME PORTFOLIO 

tf Clast A J 1031 

d Class 0 5 976 

THORNTON MANAGEMENT LTD 

tf PodtlnvtFdSAC E 1532 

tf POCitMVtFdSADM DM 38JO 

tf Eastern Crusader Fund —4 1532 

tf Thor. Uflt Dragons FdLtdA 4279 

d Thornton Orient Inc Fd LMS 2831 

tf Thornton Tiger Fd LM S 5349 

rfMraogwISelecHon S 2X78 


tf Komi 1 15.12 

NEW TIGER SeL. FUND 

tf Hong Kong S 6X37 

tf Japan 1 1845 

tf Philippines S 63X2 

tf Thailand S 2141 

((Malaysia 1 2337 

g Indonesia ...4 945 

tf U5SLiqindHy S 1X17 

tf anno— S 1138 

tf Sbwnwro J% 2216 

THORNTON TAIWAN FUND 

tf Equity inr"— u. s 12X8 

tf Equity Growth . I 1X87 

tf Liquidity S 1038 

UEBER5EEBANK ZvtCk 

d B- Fund SF 1219X8 

tf E- Fund SF 64935 

■* -AR 39838 

0 M- Fund SF 130870 

tf UBZ Euro- Incam* Fund — sf HL7o 

d UBZ World Income Fund —Ecu 54.14 

tf UBZ GcM Fund S 132X1 

tf UBZ Nippon Convert 5F 126644 

tfAsto Growth Convert SFR.SF 1262.14 

d Asia Growth ComeiiUSS-3 121251 

d ubz DM -B and Fund DM 105.M 

tf UBZ D - Fund DM 10974 

tf UBZ Swiss Equity Fund— — SF 117.17 

tf UBZ American Eq Fund — S 9874 

tf UBZ *- Bond Find S 9873 

UNION SANCAIRE ASSET MGT (VRAM) 
INTERNATIONAL. NASSAU 

wArdet Invest S 259448 z 

w Arm Invest s 120843 z 

w Bacofln S U5J71 z 

■r BecUnvest S 13TZZW » 

w BrucIrrvTst . S . 108939 z 

wCrespinvat S H04.I5Z 

w Dmtutiy cs . . . — . . -S 

wDinvesf S 

w Dlnves) Asia » S 

wDimmst hill Fix incStrat— I 
■r Ja gtovg gt . s 

w Laron hivesl— — — S 

wMansInvest— * 

wMortinvesi 5 

wMou rtnvest- — S 

w Mow Invest Ccminotod S 

iv Maurkiveat Ecu. — — Ecu 

w Pulsar s 

hp Pulsar Overly— — — I 

nr Quontlnvesl .... — 5 

wOuant Invest 93 S 

w Stelntnvest -S 

vr Tud Invest — X 

w Uninvest. — s 

UNION BANCAIRB ASSET MOT IUBAM) 
INTERNATIONAL, LUXEMBOURG 

■vUBAMf Bond S 117119 z 

mpUBAM DEM Band DM 111576 z 

wUBAM Emerging Growth -S 1830.16 z 

wUBAM FRF Bend FF 5514X0 z 

hp ubam Germany DM 119S3BZ 

wUBAM Global Bond .Ecu 1414X9 z 

W UBAM Japan— _Y 10092X9 Z 

wUBAM Sterling Band _i 98074 

qr UBAM SthPacH ft Asia S ZTOXBl 

wUBAM US Baullles S 129532 Z 


UNION BANK OF SWirZERLANDflHTRAG 


tf Bond-invssl SF 

tf BHFmvnst SF 

tf Canoe SF 

tf Canutrt-lnvesi SF 

d D-Mark -Invest DM 

tf Doltar-lnvesl S 

tf Bnerate-invest sf 

tf Espoc SF 

tf Eurfl SF 

tf Fanso SF 

tf French SF 

tf Gertnac SF 

tf fttotnnwrt AP 

tf Goto- Invest SF 

tf Galdcn-lnvest H 

0 Hetvrt Invest SF 

tf HoHandJnwost SF 

tf line SF 

tf Jaaan-inves) SF 

tf Padflc-invest SF 

tf M 

tf Sfcondlnavlen-lnvtst SF 

tf Sterltnp-lnvest E 

d Swiss Fnnw-lnvust SF 

tf Sima SF 

tf Swtssreal SF 

tf UBS Amelia Latina — SF 

tf UBS Anwrtra Latina- s 

tf UBS Asia New Horbsn— JF 

tf UBS Asia New Horizon S 

tf UBS Small c Eurapa SF 

tf UBS Small c Europe DM 

tf UBS Part inv sfr inc SF 

tf UBS Port Inv SFR Cap G_SF 

tf UBS Port Inv Ecu Inc SF 

tf UBS Port inv Ecu inc— Era 
tf UBS Port Inv Ecu COTG—SF 

tf UBS Port Irtv Ecu Cap G Era 

tf UBS Part Inv USS Inc % 

tf UBS Part Inv USS Inc SF 

tf UBS Part Inv USS Cop G—SF 
tf UBS Part lav USS Cop G-J 

tf UBS Port inv DM inc— SF 
tf UBS Part Inv DM Inc — —DM 
tf UBS Part inv DM Cap G — SF 
i tf UBS Port tiw DM Cap G— DM 

I tfYen-invest— — — Y 

d UBSMMlnvest-USS S 

tf UBSMM InvesFCSt 1 

tf UBSMMlnvest-Ecu Ecu 

tf UBS A6M Invest-Yen— Y 

0 UBS MM Invest-Lit- JUt li 

tf UBS MM lnvest-5FR A SF 

tf UB5 MM iMcst-SFR T SF 

tf UBS MM Invest-FF FF 

tf UBS MM Invest+IFI FI 

tf UBS MM invesKanS Cs 

tf UBS MM InvestGFR BF 

tf UBS Short Term Inv-DM DM 

tf UBS Band inv- Ecu A. .Fro 

tf UBS Band inv-Ecu T Era 

tf UBS Bond mv-SFR SF 

tf UBS Bond Inv-DM DM 

tf UB5 Band ImrtlSS % 

tf UB5 Bond InvFF FF 

tf UBS Bond Irrv-Canl— CS 

d UBS Band InWJt Lit 11 

tf UBS BJ-USI Extra Yield— S 
tf UB5 Fix Term Inu-USS 94—1 
tf UB5 FbcTorm Invest 94 — 1 
d UBS Fix Term lnv-SFR96-SF 

tf UBS Fix TSrra Inv-DM 96 DM 

tf UBS Fix Term inv-Ecu 96— Ecu 

tf UB5 Fix Term Inv-FF « FF 

tf UBS Eq Inv-Eurnpe A DM 

tf UBS Eq Inv-EumPB T DM 

tf UBS Eq IrvSCbd USA— I 
tf UBS Part I Fix Inc (5FR)-5F 
0 UBS Port I FU Inc [DM) — DM 
tf UBS Port I Fix Inc (Ecu) — Ecu 

tf UBS Port I Fix Inc (USS) 9 

0 UBS Cap Inv40/10 SFR SF 

tf UBS COP I rw -90/10 US* S 

tf UBS cap InvWlDGwm— DM 


14730 Y 
21238v 
M5.»y 
11650 V 
18100 V 
36740V 
33230 y 
22230V 
25730y 
12830 v 
26330y 
28370 V 

105.10 V 
338J0 v 
16030 V 
msgy 
48200V 
21430 y 
27250 y 
22X28 y 
2124# y 
24140 
19830 
T19J0 V 
0475V 
9350 Y 
6433V 
10X50 y 
12240 V 
10930 V 
11085 v 
102X5 y 
4291 y 
IDsXSv 
4SJ8 Y 
7478 y 
10530 y 
10675 V 

71X9V 
»830 y 

117.10 V 
10035 V 
11940 y 

9040930V 

100937 

40735 

51217 

10078830 

101068830 

506941 

578076 

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102071 

101442 

2440430. 
55039 
10842 V 
16142 V 
10446 y 
10672 y 
101 J4V 
112231 y 
10593 y 
116649030 V 
97X4 V 
11031 y 
11140V 
11145 y 
11533 v 
11633 Y 
11SA7y 
24237 y 
24843V 
13549V 
10038 y 
10145 y 
10477V 
10033 V 
108X4 y 

10&64V 

12430 y 


WORLD FOLIO MUTUAL FUNDS 

tf S Dotty Income j 130 

d DM Daily Income DM 130 

tf S Bond Income S 17-55 

d Non -S Bonds _j 2577 

d Global Bonds J 2032 

d Global Balanced S IBJ6 

tf Global Equities S 18.95 

tf U5 Conservative Equtttes-S 1493 

tf US Agresslw Emilies l 15X4 

d European Equtttes 4 1134 

tf Pacific Equities 1 1X34 

tf Natural Resources * 8.17 

YIELD ENHANCEMENT STRATEGISTS 
tf Enhanced Trea*. Returns-* 1.11250 


Other Funds 









Page 17 


tf d. witter wuwtoe 1 vtTsLX 

-nr.r i 

W Pol mo Jqbqd C wtd - V 

tf DB Argentina Bd Fd— X 
d DBSC/ Nafln Bond Futid—I 

nr Derivative Asset Alloc 3 

tf Drevfus America Fund— 3 

I DVT Performance Fd S 

w Eg* Overseas Fund Ltd—* 

m Elite world Fund Ltd 4F 

tf Eml Brig. Ind. Plus A— BF 

tf Eml Betg. md. Pius B- BF 

tf Eml F twice Ind. Plus A FF 

tf Eml France ind. Plus B FF 

tf Emi Germ. Ind. Plus A DM 

tf Eml Germ, ind, Plus B DM 

tf Eml Neth. index Plus A FI 

0 End Neth. index Plus B FI 

tf End Spain Ind Plui A— Pta 

tf Eml Spain l no. Plw B Plo 

tf End UK index Plus A c 

tf Eml UK index Plus B 1 

mEoubdar Offshore LIO 5 

w Espir. SM inv, M ECU Bd FdEeu 
w Esutr. 5 to inv. Sih Eur Fd-S 

tf Europe W2 S 

tf Europe Obligation* .. . .Ecu 
w F.t.T. Fund FF ff 

w F MJ». Portfolio 5 

nr FalrfMd Inn Lid S 

hp FatriieM Sentry Lid t 

hp Fcdrfietd strategies Ltd. 5 

mFatum Fund s 

m Firebird Overseas Ltd s 

w First Eagle Fund — i 

nr First Ecu Ltd Ecu 

m First Frontier Fund X 

m First Inti Invgstmenl Ud_S 
HP FL Trust Asm X 

w FL Trust Swltzerlong.- .SF 

w Fenlux 1 Money s f 

hp F on lux 2 Devise SF 

«v For lux 3- Inti Bond SF 

w Formula Selection Fd SF 

m Future Generation Ltd 1 

mGEM Gonsratton Ltd S 

m Gemini Cay* Ltd * 

m Gems Progressiva Fd Ltd — * 

mGermon SeL Associates DM 

mOPMC Growth Fund S 

ft Gtobal 93 Fund ud S I 

w Global Arbitrage Ltd SF 

b Global Cop Fd Bvi Ltd S 

w Global Futures Mat LM — s 

01 Global Monetary Fd LM — * 

wGtxmord— — SF 

tf GrnetriJae France FF 

m Guaranteed Caatw ImmM LF 
w Haralnaer Latin Amer— $ 

i Ho ussm onn hmo* itv S 

hpHB Investments Ltd 5 

mHeadtttoere Neutral Jan 31 4 
tf Heritage Cop Growth Fd LMS 
w Hextta Fund S 

b Hiahbritfn capiroJ Coro — 1 

w Horizon Fund FF 

nr ibex Halting* Ltd SF 

w IF DC Jroan Fund Y 

b ILA-IGB 5 

b ILA-IGF S 

b ILA-INL S 

w Irrfisa Currency Fd LM S 

r Ml Securities Fund Ecu 

tf intertundSA 5 

tf Investn DW5 DM 

wjapcm Pacific Fund 4 

m Japan Selection Asses Y 

w Japan Selection Fund S 

w Kcnmor GM Series 2—* 
w Kenmor Guaranteed— S 
m Ki Asia Pacific Fd Ltd * 

tf KML - II High YMd S 

w Korea Dynamic Fund— S 
w Korea Growth Trod * 

m LF. Yield ft Growtn Fd S 

Mr La Favette HoMlngr* LM S 

m La Jolla intGrth Fd LM — * 
b Later mun: OHslwroStrat— * 

wLeaf Slcov S 

mLeu Performwice Fd S 

w LF International — * 

m London Portfolio Services— 5 
mLPS Inti HJ>B — S 


pn Lynx SeL Holding* SF 

w M 1 Muitl-Strotegy * 

wMJUngdon Offshore. N.V — J 

pn Master Caps Hedge Fd s 

w Matterhorn Offshore Fd__S 

w MBE Japan Fund LF 

m McGinn is GioMi I Feb 281 _i 

mMCM int. Umlted t 

or Millennium International * 

m mum international Ltd S 

m Momentum Guild Ltd— 1 

w Mottttutoros— FF 

tf New Millennium FuL Ltd_S 

tf Mewtonk Debentures s 

pn NMT Aston SeL Portfolio * 

w Noble Partners IMI Lid I 

mNSP FJ.T. Lid S 

m Ocean Strategies Limited — S 

wCHd ironside Inti Ud 5 

m Omega Overseas Partners _S 

mOpaenhelmer U4.ATO. * 

w Optimal Effnct Put. Lid A— S 
hp Optimal Effect Fut Ltd B_SF 

pn Optimum Fund S 

w Oracle Fund LM S 

m Overtook Performance S 

mPaeff RIM Opp BVI Mar 07 4 
m Pan Fixed Ine Fd (Jan 3B)_S 

m PAN international LM * 

wPwiciaTi Inc. S 

w Panda Fund Pic— — S 
m Panptoes Offshore (Fab 21) * 

m Paragon Fund Umlted S 

m Parallax Fund Ltd S 

mPaauot inti Fund S 

w Pharma /Wheatth——* 

m Pturhieslloii Plurilornx FF 

w Ptortgestlan Pfurtvaieur— .FF 

1* Pturtvest Sieav ff 

mPambav Overseas LM—. — S 

m Portuguese Smaller Co S 

m Prime Band Plus Fd Ltd—* 
mPrlma Copllal Fund Ltd — S 
m Prime Mufti- Invest, — — s 

mPrttnea Fund s 

tf Praftreitt SA DM 

w pyramid Inv Fd Com— * 

tf rad Int. Inv. Fd s 

tf Regal Inti Fund LM— S 

I WcInorastFundA s 

/ Ric Inavrst Fund B —5 

wRIchcaurt Btilway inc S 

w It M Futures Fund Slcov — * 


IS6S1 


1U43E 
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158.480 
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11844 
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57443 
21883558 
197133 
3149.14 
964.71 



For information on how to list your fund, fax Simon OSBORN at (33-1) 46 37 21 33. 


THE CONFERENCE WILL BE 
DIVIDED INTO THE 
FOLLOWING SESSIONS: 

Derivative and alternative 
investing approaches. 

Bond and currency, Equity, 
Emerging market 


GLOBAL FUND MANAGEMENT 

Which Way are the Markets Moving? 

THE EXPERTS DEBATE THE TRENDS • DOLDEJt, GRAND HOTEL * ZURICH - MARCH 2S&24 • 1994 


IIJI 


Ifcralbssgfe&ribunc. 


International Funs iNVtMTMENT 


FOR FAST AVAILABLE 
PLACES AT THE 
CONFERENCE CONTACT 


Brenda Hager ty 
International Herald Tribune 
63 Long Acre, London WC2E 9JH, England 
Teh (44 71) 836 4802 
Fax: (44 71)836 0717 




























































































INTERNATIONAL HERALD TRIBUNE, TUESDAY, MARCH 15, 1994 


f : -■ ‘ t 
» -■ 

;■ 

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>6 ’•>: ;• 


is -s; 


[I listuig Freeze 
|, Calms China’s 
i * Small Investors 


Page 19 

ASIA/PACIFIC 


Daiei Pushes for Change 

Japanese Retailer Wants More Say 


‘4r 

* J* ‘ V 


3 S*i 


Reuters 

SHANGHAI — China BDveOed 
a four-poini rescue plan for its bai- 
ted stock markets on Monday 

that wffl slow the pace of new list- 
ings, and investors celebrated with 
a buying hinge that seat prices 
soaring. 

The move followed a demonstra- 
tion m the southern city of Shenz- 
hen on Friday, where hundreds of 
angry investors criticized plans for 


Modest Upturn 
AtSwirein 9 93 

Agenee France -Prone 

HONG KONG — Swire 
Pacific Ltd. said Monday its 
net profit rose a modest S per- 
cent in 1993. 

The chairman, Peter Stitch, 
said the decline in Cathay Pa- 
cific Airways' profit, reported 
last week, had dragged down 
otherwise strong results at the 
real estate-development, avia- 
tion and trading con glomerate. 
Hcwasdnamispect about Swi- 
re’s prospects For 1994, saying: 
“We expect to perform wdL" 

Profit rose to 4.66 billion 
Hong Kong dollars ($603 mil- 
lion), or 2.93 dollars per flare 
A shine, from 4.42 billion dol- 
lars a year earlier. 


huge Dew-share listings during a 
hem" market. They demanded that 
national leaders pay attention to 
sown investors. 

Heading the list of relief mea- 
sures outlined by China’s lop secu- 
rities regulator, Liu Hongru, was a 


billion yuan ($634 million) of 
shares scheduled to be issued this 
year. He also said implementation 
of a tax on stock trading would be 
postponed until after thus year. 

Small investors responded to the 

package, announced in the fhina 
Securities News, with a stampede 
back into a market that had 
plunged 36 percent from its peak a 
year ago. 

The Shanghai A share index 
soared 10-24 percent, to dose Mon- 
day at 81 1 .69, while trading volume 
recorded a record 531 bfflion yuan 
during the session. The Shenzhen A 
share index surged 5.13 percent, to 
215.57. 

The markets in B shares, which 
are aimed at foreign investors, 
however, were hardly touched by 
the moves. 

The Shenzhen market had expe- 
rienced riots in August 1992 when 
nearly a million people final up for 
5 mufion lottery tickets giving the 
right to buy shares. When the tick- 
ets ran out, angry crowds accused 
the authorities of ri g gin g distribu- 
tion and grew violent, overturning 
cars and confronting police, who 
fired shots into the air and used 
tear gas. 


By James Stemgold 

New York Times Service 

TOKYO — Isao Nakauchi is by Japanese stan- 
dards a frightening revolutionary — be wants 
retailers to be retailers. 

Those are fighting words in a country where, in 
stark contrast to the situation in most industrial 
countries, manufacturers and not retailers have 
determined which products make it to market, bow 
they are sold and how they are priced. Retailers 
have generally done as they are told. 

Mr. Nakauchi has been on a decades-long mis- 
sion to change that, and there are that his 
long struggle may be coming to fruition. He is the 
chairman and controlling sharehnldftr of Daiei 
■ Inc, Japan’s largest supermarket chain and retail- 
er, and after a series of mergers the company has 
developed far more influence over its suppliers. 

Helped by the removal of some regulations at 
the urging of the United States, Daiei has become a 
big catalyst for change in Japanese retailing. 

“They are absolutely ri$it cm target in wbat they 
are doing," said Mike Allen, die retailing analyst in 
Tokyo with Barclays de Zoete Wedd Securities. 
“Everything they’ve done for the past year is just 
what they need to do to bring pricing control into 
the hands of the retailer. Daief is out in front,** 

Daiei is a tng discounter aizning atthe lower end 
of the market, where volumes are huge and mar- 
gins are thin. Its products range from food to 
clothing. It even owns a professional baseball 
team. More recently it has added real estate to its 
stable or interests. 

One problem, if it can be called that, is that 
DaieTs stock price has been on a tear. It has more 
than doubled in a year, closing at 1,910 yen 
($1 8.15) a share in Tokyo Monday, compared with 
about 790 yen in March 1993. 

Bui there is concern that the rise may have run 
its course. Mr. Allen, to instance, said be rated 
Daiei a “hold," saying it had traditionally been cue 
of Japan's least efficient retailers. 

But he was quick to add: “We still thmlr that in 
the long term it has the highest potential for 


appreciation in the retail sector. It is the only 
retailer that has consistently improved gross mar- 
gins throughout the recession.’' 

Kaori Hasegawa, the retailing analyst with Salo- 
mon Brothers Asia, also has some hesitations. She 
said almost a quarter of Data's assets were devot- 
ed to nonretauing businesses such as real estate 
and condominium sales. These companies, she 

INTERNATIOML STOCKS 

said, had not meshed wdl with the retailing busi- 
nesses and had not produced impressive returns. 

Tve been wrong on this stock before,’’ she said. 
“But the rise has beet so sharp it concerns me a lot. 
If their earnings don’t meet expectations, there's a 
real risk of a big drop.” 

But she said Daiei had made great headway in 
taking control of its pricing. A good example is its 
three-decade feud with tire country’s largest con- 
sumer electronics company, Matsushita Electric 
Industrial Co. 

Mr. Nakauchi battled Matsushita in the early 
1960s, when he sought to sell its refrigerators, rice 
cookers, televisions and other products at dis- 
counts. ' 

But recently Daiei took control of a smaller 
retail chain, Qiujitsuya Co., which carries Matsu- 
shita products. A decade ago, when Daiei matte a 
similar acquisition, Matsushita stopped selling 
products to the retailer. This time it was big news 
when Matsushita agreed to keep selling to Chujit- 
suya: Daiei bad gamed the upper hand. 

Daiei was a pioneer in selling products under a 
private label at cut-rate prices. It has recently 
forged relationships with a number of manufactur- 
ers and big trading houses as it seeks to rircnmvai t 
Japan’s famously inefficient wholesaling system. 

“Once they consolidate all these mergers, they 
will have even more purchasing power, and that's 
what they need to keep reducing their costs,” Mr. 
Alien said. “When Daiei talks, die manufacturers 
finally listen.” 


2 Japanese 
Firms Join 
Gen’l Magic 

Compiled by Oar Stuff From Dispatches 

TOKYO — Fujitsu Ltd. and To- 
shiba Crap, said Monday that they 
would join a U.S. multimedia con- 
sortium that has created communi- 
cations software that could become 
the global standard. 

The companies said they would 
invest undisclosed amounts in 
General Magic Ino, which will en- 
title them to use General Magic’s 
Tdescript and Magic Cap commu- 
nications software systems. 

Fujitsu said it would invest as 
early as this spring, while Toshiba 
said the formal agreement on capi- 
tal participation was expected to be 
completed this month. 

The companies said they recog- 
nized Tdescript and Magic Cap as 
strong candidates to become indus- 
try standards to communications. 
They identified the link as an effort 
to keep pace with developments in 
multimedia, the iH-defined combi- 
nation of telecommunications, com- 
puter, video, and sound technology. 

Fujitsu said that it would ose the 
software to develop new communi- 
cations media it dubbed Life Me- 
dia for “use in the coming interac- 
tive multimedia age." 

General Magic, a manufacturer 
of communications software prod- 
ucts based in California, is partly 
owned by Apple Computer Ino, 
Motorola Inc., American Tele- 
phone & Telegraph Gx, Philips 
Electronics NV, Sony Corp. and 
Matsushita Electric Industrial Co. 

(AFP, Bloomberg) 



* SXr * 

Somves: Rouisrs, AFP 


ll'V hi- > 1 J 


Very briefly: 

• Eleven Japanese banks will write off nonperforming loans worth more 
than 2 trillion yen ($19 billion) in the financial year that ends March 31, 
according to Kyodo News Service. 

• Leo Burnett Co. has signed a nonequity affiliation accord with Viet- 
nam’s first privately owned advertising firm, Vietnam Advertising Co. 

• Vimisea Corp-, a pharmaceuticals venture owned 70 percent by Bridge- 
creek Realty Investment Corp. and 30 percent by three Vietnamese 
companies, is the first American joint venture licensed since the UJS. 
economic embargo ended, Vietnam Investment Review reported. 

• Taiwan’s Overseas Economic Cooperation Development Fund said 

skyrocketing land prices in Vietnam may force Taiwan to reconsider its 
policy of increasing investment there. AFP. ap. Return 


NYSE 

Monday's Closing 

Tables include the nationwide prices up to 
the closing on Wall Street and do not reflect 
Into trades elsewhere. Via The Associated Press 

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U.S. Honda Executives JAPAN: u.s. Talks to an Outcast 

k T 1s i o n el Continued from Page 13 negotiations. One reason may l 

Are Indicted for Bribes sayrafSfians 


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By Doron P. Levin 

New York Tima Service 

CONCORD, New Hampshire— 
Following a year-long probe of alle- 
gations that more than $10 mOfion 
of bribes and kickbacks had been 
paid by car dealers for Honda fran- 
chises and to allocation of extra 
automobiles, tire U.S. attorney here 
unsealed grand jury indictmsats on 
Monday against former top Ameri- 
can executives of Honda Motor Co. 

Though rankings of while-collar 
crime are not kept, the investiga- 
tion against Honda by federal 
agents probing commercial bribery 
appeared to oe one of the most 
extensive of its kind ever carried 
out by the government. 

Eight former Honda executives 
"agreed to plead guilty to federal 
crimes connected to unauthorized 
payments including racketeering, 
mail fraud, wire fraud and conspir- 
acy. Five other Honda executives 
named in the indictments were ar-. 
rested by agents starting on Friday 
and charged under the same stat- 
utes. 

So far no car dealers have been 
charged with crimes. Neither 
Honda Motor Co. in the United 
States nor any of its Japanese exec- 
utives have been charged, but pros- 
ecutors emphasized the investiga- 
tion has not concluded. Robert 


Conforti, an agent of the Federal 
Bureau of Investigation in Boston, 
said the investigation was expected 
to continue “for some time." 

Michael Connolly, an assistant 
U.S. attorney, said the eight execu- 
tives who pleaded guilty are coop- 
erating with investigators in return 
to recommendations of leniency in 
sentencing. Sentencing could begin 
this summer, Mr. Cormofly said. 

Thomas EDiott, executive vice 
presidem of Honda, said the auto- 
maker was “outraged and sad- 
dened by the criminal activities de- 
scribed m the guilty pleas and the 
indictments.'* Prosecutors said 
Honda had been cooperating with 
the government. The automaker 
said it has been defrauded of “mil- 
lions of dollars,” which it intends to 
recover. 

The guilty pleas, however, lend 
credibility to activities that have 
been rumored for years among 
dealers and auto industry execu- 
tives but only recently had been 
exposed to public scrutiny as a re- 
sult of civil litigation: namely, that 
some Honda sales executives fa- 
vored certain dealers with lucrative 
franchises in return to amounts as 
much as $750,000 and delivery erf 
more than the usual number of 
Honda and Acura vehicles in re- 
turn for cash and gifts. 


Continued from Page 13 
and signed an agreement couched 
in murky lan g ua g e that failed to 
resolve any major issues. 

After months of inconclusive ne- 
gotiations at the staff level Mr. 
Hosokawa and Mr. Clinton met at 
the White House on Feb. 1 1 — and 
failed again to agree. 

At that point, Washington an- 
nounced it was ready to impose 
trade sanctions on Japanese prod- 
ucts unless Motorola Inc. gpt better 
terms for competing in Japan's 
richest cellular-phone market. 

Motorola wot the right five years 
ago to offer cellular-phone service in 
Japan, but it has since argued that it 
has been unfairly blocked from 


Although he has no cabinet posi- 
tion and no expertise in telecom- 
munications, Mr. Ozawa emerged 
as a key Japanese player in the 


negotiations. One reason may be’ 
that he was one of the Japanese 
negotiators when Motorola first 
won the right to enter Japan's cellu- 
lar market 

The agreement reached Saturday 
requires a Japanese mobile-phone 
service company, Nippon Idou 
Tsudrin Corp., to provide new cel- 
lular-telephone te rminals dial will 
give Motorola a much stronger 
presence in the Tokyo-Nagoya 
market 

Mr. Mondale, the former U.S. 
vice president said Monday that 
the agreement had set a pattern for 
U 5. -Japanese deals on other trade 
issues, including antes, auto parts, 
computers and semiconductors. 

“The key lesson here," Mr. Moo- 
dale said, “is that if you work to- 
ward an agreement that is practical 
and results-oriented, when we get 
through, everybody’s happy.” 


CURRENCY AND CAPITA! .MARKET SERVICES 


039 


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W inchester House, 77 London Wall - London EC2M 5ND 
TeL 071-382 9745 Fax* 071-382 9487 


FOREIGN EXCHANGE & GOLD 


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ANNUAL GENERAL MEETING OF SHAREHOLDERS 

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1. To receive and consider and, if 
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ended list December 1993 and the 
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There ire no service contracts In 
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By enter of tie Board of UQU1BAER, E*™ 1 Starisrical Service. 

Julius Burr U.S. Dollar Fund Limited ISth March, I9«4 
RO. Box 1 100, Grand Coymaa Siciitait and R(siitiai 

ajman * ■ , JuEus Baer Bank and Thw Company Lid. 

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Page 20 


INTERNATIONAL HERALD TRIBUNE, TUES DAY, MARCH IS, 1994 


SPORTS 



In the Days Before BasebalVs Rules of Fruition 


By Shirley Povicb 

Washington Pest Sen ice 

FORT LAUDERDALE, Flori- 
da — There was a tap on his 
shoulder the other day and a cer- 
tain baseball writer was being told 
by a functionary in a New York 
Yankees cap that he had trans- 


“Step back on the grass, sir,” he 
said. “You know the rules.” 

This was behind the batting 
cage, and the writer's sin was 
standing in the dirt area around 
the cage. Two midget steps to the 
rear, and now die grass was under 
his feet and he had complied, his 
location now acceptable. 

The printed rules area big thing 
in the Yankees' spring-training 
camp. “No member of the media 
is allowed in fair or foul territory 
beyond first or third base.” And. 
“45 minutes before the game, 
clear out of the dugouts and the 
clubhouse.” 

There is more: “Still photogra- 
phers and cameramen must stay 
in assigned areas.” 

“The clubhouse is off-limits 
when the game starts. No player 
may be accessed unless he has left 
the game.” 

In baseball’s less-monied days, 
spring training used to be more 
fun for the writers and everybody 
else. The informality of rickety 
old clubhouses, wooden grand- 
stands and the heavenly absence 
of TV crews and pompous public- 
relations corpsmen brought play- 
ers and writers together. They 
stayed and ate together in the 
same little hotels, called each oth- 
er by first names and were unin- 
hibited by lengthy instructions 
from PR departments. 

Today, “access" is the buzz- 
word. Yankees players are not ap- 
proached, they are “accessed.” Of 
all the dubs, the Yankees are the 
most rule-crazy, but the others are 
not far behind. 

In contrast there was the late 
Gark Griffith, owner of the old 
Washington Senators. He was 
team proprietor, team president 
and bottle washer. Griffith had no 


need for a public-relations staff. 
He would often call The Washing- 
ton Post sports editor and say: 

. “Walter Johnson is pitching to- 
morrow. Gimme a headline.” 

Modern big-league tea m s are 
enjoying the bounty of eager Flor- 
ida and Arizona towns whose citi- 
zens build them modified big- 
league stadiums for free. Lavish 
clubhouses with shining bath- 
rooms and Nautilus equipment 
are what’s in style. Plus ample 
individual lockers. 

Not so in the era of the Senators 
and their contemporary dubs of 
an earlier day. On entering the 
dubhouse on the first day of 
spring training each player 
searched out the hook on which be 
could hang his stuff and hoped to 
find a stool on which to sic Noth- 
ing like the expensive lockers pro- 
vided the New York Mets in their 
deal with the town of Port Sl 
L ucie, Fiona, which built them to 
specifications that provided an ex- 
tra-wide locker for the catchers in 
recognition of tbeir heavier equip- 
ment or, mayhap, their broader 
backsides. 

When the Senators set up camp 
in Orlando, Florida, in 1936, after 
moving from Biloxi. Mississippi, 
they quartered themselves in the 
downtown Angbilt Hotel, not a 
luxury address. However, it was 
on die same street as Orlando's 
two movie theaters and thus ad- 
vertised itself on its matchboxes 



as “Orlando’s only fireproof ho- 
tel In heart of theater district.'' 


Rnly Kennedy /The few<datcd Pres* 

The Philtre* Wes Chamberlain got a handful from his teammate Kim Batiste during a woriowt 


tel In heart of theater district.'' 

This is not to say all of the 
Senators were quartered in the 
Angbilt, which Griffith consid- 
ered too rich and expensive for 
some of the team’s laser rookies. 
So, shunted to Mrs. Mason’s 
boarding house at considerably 
less expense to the team were the 
likes of Mickey Vernon, Early 
Wynn, Walter Masterson and 
George Case, who at mealtime 
could practice their boarding- 
house reach. It is memorable that 
from that group would evolve a 
two-time American League bat- 
ting champion (Vernon) a Hall of 


Fame pitcher (Wynn) and an 
American League-leading base 
stealer (Case). 

This was an era when the play- 
ers. on road trips, were subsisting 
on S6-a-day meal money. Some of 
the saving types would show a 
profit by doting on hamburgers 
and hot dogs. 

The Senators worked out at 
Tinker Field, named for Joe Tin- 
ker, an Orlando native and the old 
Cubs second baseman of the leg- 
endary Tinker-to-Evers-to- 
Chance fame. Tinker Fiekl had a 
wooden grandstand, wooden dug- 


outs and wooden clubhouse, all 
graying and tilting. But it was not 


unuke other spring-training 
camps in Florida in Ihe late TOs. 

Joe Tinker was almost always 
present at Tinker Field, in a 
wheelchair. So it was that one day 
when a visitor in the dubhouse 
turned out to be Heine Groh, the 
old National League third base- 
man of Tinker's era. Groh asked 
to be taken to Tinker, a teammate 


whom he hadn't seen in years. 
When they met near the Sena- 


Wben they met near the Sena- 
tors’ dugout, Groh extended his 
hand and said, “Guess who I 


am?” Tinker studied his visitor a 
bit and then delivered his unfor- 
gettable reply. “I don’t rightly 
Icdow ” he said, “but if you had 
hair, you little SOB. you'd be Hei- 
ne Groh." 

Helping to make the living easy 
in Orlando was PhD Berger's Tav- 
ern, the home away from home for 
writers covering the Washington 
team. The gathering at Berger's 
was a ritual and Berger ran an 
orderly saloon, guarding all doors 
against pre-Berger inebriates. 

Thus it was one night when a 
chap who already had too many 


snifters attempted to enter, and he 
was politely turned away by 
Berger- Presently, though, he ap- 
peared at another entrance lead- 
ing from the adjoining hotel and 
was turned away again. Somehow, 
be found a third entrance leading 
to the tavern from yet another 
side. When he was confronted 
again by Berger he was taken 
aback and blurted, “Geez, do you 
own every joint in town?” 

St Petersburg was the capital of 
Florida training camps, for both 
the Yankees and New York Gi- 
ants quartered there in separate, 
plush hotels. It was in St Pete that 
Lefty Gomez of the Yankees com- 
plained: “They told me to put on 
15 pounds and I’d get a better 
fastball I did, and now I can’t 
break a pane of glass. I throw 
harder but the ball wasn’t going as 
fast-” 

It was in SL Pete that the great 
Yankee Yogi Berra, after bragging 
to writers how be was taking col- 
ored pictures with his new camera, 
grabbed a passing New York Mir- 
ror photographer and asked for 
some information. “Tell me, Joe,” 
be said, “how does white go is 
color?” 

Clustered on the Florida west 
coast along with the New York 
teams were the Red Sox in Saraso- 
ta, the old Philadelphia A’s in 
Fort Meyer, the White Sox and 
Reds in Tampa and the Cardinals 
in Bradenton. It was in Braden- 
ton, with its typical old wooden 
ballpark and rickety wooden press 
box, that die following Henry 
McLemore episode took place. 

It was the day the Senators were 
in Bradenton to play die Cardi- 
nals that we encountered McLe- 
more, the splendid baseball writer 
for the United Press. But now his 
left arm was being earned in a 
-ding What happened? 

Whereupon McLemore, point- 
ing to the three steps leading to 
the old press box, said: “That's 
where it happened. In my time I 
have fallen three miles drunk. I 
fall three feet sober and look at 
the result.” 


SIDELINES : 

Baiul Withdraws From World Event * * 

TOKYO (API — Oksana Baiul the defending Olympic and world- 
champion. will not compete in the World Figure Skating Championships 


next week, organizers said Monday. -...• 

Bai ul's withdrawal leaves the women’s singles competition without its _ 
top two stars. Nancy Kerrigan of the United States, who won the silver 
medal at the XiDehammcr Games, had announced earlier that she was top 
tired to compete. The organizers said the Ukrainian team wo uld re place 
Baiul with Inna Vayets. They gave no reason, but Baiul had complained, 
of back pain and pain in her lower leg after the Olympics. . ‘ i 

• Takashi Mtuqmaga, chair man of the All Japan Women’s Profession- 
al Wrestling Association, said Monday he was offering Tonya Harding $- ^ 
mill i nn to be a pro wrestler in Japan. He said he hoped to meet with the*-' 
skater while she is in Japan for the world championships, “Tonya was ri - 
made to be a pro wrestler,” he added. “She’s about as tough as they come, • 
and she'll last a lot longer in our sportthan she will in figure skating. -* 


fffilk 

•$ M 1 ' 

[the 


x.tf* T • 


Nagano Officials Deny Bribe Report '• 

TOKYO (Reuters) —Officials of Nagano, venue for the 1998 Winter 
Olympics, on Monday dismissed reports that Japanese paid alleged* 
bribes to an Italian to back the Japanese city’s bid to host the Games. 
‘‘That’s quite impossible,” Nagano’s mayor, Tasuku Tsukada, was -J 


quoted as saying by newspapers on Monday. “At the bid stage, our rivals, * 
were SalL Lake City and Ostersund. So we only knew Aosta as a name of _ ) 
candidates. We did not regard it as our main rivals.” ' * 

Italian judicial sources said on Sunday that magistrates were investi- :• 
gating alleged bribes paid by Japanese individuals to an Italian to back:' 
Nagano’s bid to host the 1998 Games. The sources said supporters of ■*, 
Nagano were suspected of paying5 billion lire ($3 million) to a resident of 
Aosta, which also made a bid to host the Olympics. 


2d IAAF Appeal of Reynolds Ruling 

MONACO (Reuters) — The International Amateur Athletic Federa- j! 
tion said Monday that it bad lodged a second appeal against a U.S. court £ 
decision awarding $27.4 million in damages to Butch Reynolds of the.- \ 
United States, the 400-meter world- record holder. 

The IAAF, world track’s governing body, confirmed that the action * 
was being taken at the sixth U.S. Circuit Court of Appeal in Cincinnati. 
Reynolds successfully sued the IAAF in a court in Colombus, Ohio, after r» 
he was banned for two years over a positive dope test in Monte Carlo in. j - 
1990. In July, a federal judge rejectee! an appeal by the IAAF. 


Price Near-Perfect in Honda Golf 


FORT LAUDERDALE Florida (Combined Dispatches) — Nick 
Price, playing nearly perfect golf, came from three strokes behind to win 1 • 
the Honda Gassic. ’ • 

Price, 37, hit all 18 greens and missed only one fairway on Sunday. He.*-' 
shot a 5-under-par 66 for a total of 8-under 276, and beat Craig Pany, 
who shot 67, by a stroke. The Zimbabwean also hdd off a late surge by 
John Daly, who, in his first tournament since his November suspension, > " 


made a startling run before finishing four strokes back in fourth place. 
Price eot awav to a birdie-birdie start clayed the front side in 32 and-' 


Price got away to a birdie-birdie start, played the front side in 32 and-' 
had the lead alone at the turn. He stretched it with birdies on the par-5 < 
12th, a two- putt from long range, and an 8-footer on the 13th. He gave;’<- 
one back with a three-putt on the 15th. (NYT, AP ’)« ‘ 


For the Record 


Two more yachts finished the fourth leg of the Whitbread Round the^ 
World race Monday, Winston and Broolcsfieid, bringing to nine the-, 
number that have arrived in Ponta del Este, Uruguay. (AP) 




NBA Standings 


EASTERN CONFERENCE 
Atlantic Division 



W L 

Pet 

6B 

New York 

42 19 

M 9 

— 

Orlando 

37 24 

407 

5 

Miami 

34 27 

.557 

8 

Now Jersey 

32 29 

525 

10 

Boston 

22 38 

367 

19W 

Philadelphia 

21 41 

339 

21V* 

Washington 

19 42 

Central Division 

3)1 

23 

Atlanta 

43 18 

J05 

— 

Chicago 

39 22 

*39 

4 

Cleveland 

36 26 

581 

7V* 

Indiana 

32 27 

54? 

Iff 

Charlotte 

25 34 

424 

17 

Milwaukee 

17 44 

379 

26 

Detroit 

15 4* 

346 

27V« 

WESTERN CONFERENCE 

Midwest Division 



W L 

PC* 

G8 

Houston 

42 17 

312 

W 

San-AntonJa 

44 18 

310 



Utah 

42 20 

577 

2 

Denver 

29 31 

483 

14 

Minnesota 

16 45 

362 

VYi 

Dallas 

( 54 

Pacfflc Division 

.129 

3* 

Seattle 

45 15 

330 

— 

Phoenix 

40 20 

Jb€J 

5 

Portland 

38 24 

513 

8 

Golden state 

35 26 

574 

1(W 

LA. Lakers 

24 35 

507 

30Vs 


LA. Clippers 23 38 J67 JJ 

Sacramento 21 40 544 24V> 

SUNDAY'S RESULTS 
Phoenix 26 27 2* 31— IN 

OrtaMo 38 22 23 18-93 

P: Berkley 11-22 6-4 30- K. Johnson 13-244-4 
30. O: Scott 4-14 8-10 If. O’Neal 16-34 7-12 39. 
Rebounds— Ptwonlx 59 (Barkley 201. On undo 
52 co-Neal 14J. As Pita— Phoenix 27 (K. John- 
son 9), Orlando 2* (Hardaway 81. 
PftAxfcMlIo 19 37 31 37-114 

WastHngton 23 24 23 V— 97 

PiWeatherspoon 11-166-7 28. J. Malone 9-16 
3-4 21. W: Gugnatta 10-14 34 23, Chapman 8-14 

I- 1 20. Rebounds— Philadelphia 54 (Woattwr- 
saoon 121. Washington 39 (EHfson 12). As- 
■tils— Pli lladeM to 25 (Dawkins 8). Washing- 
ton 22 (Price 7). 

LA Laker* 23 30 23 34-99 

Minnesota 23 11 27 18— M 

LA.; Gantaball 5-12 34 IX DlwOC 7-1* 44 18 
Worthy 5-11 1-1 1ZM: Person 1325 *536. Rider 

II- 27 vi 21 Rebounds — Las Angeles 51 (Divac 

13). Memento 57 (Brawn 13). Assist*— Las An 
oetes 27 IThreatt ]l),MmsMo2D(C.SmH?i6). 
Miami 27 29 30 29-194 

Boston 1* 39 19 23—0 

M; Rice 7-15*4 21. Selkaly 10-1614-1734. B: 
Earl 3-11 6-7 12. Gamble 5-14 2-2 12. Horrts 4-11 
13-13 22 Rebounds— Miami 59 (Selkaly 16), 
Boston 40 (Earl 3). Assists— Miami 18 (Show 
9). Boston 18 (Douglas 5). 

Houston 28 19 37 24-199 

Daflas 22 31 20 39-93 

H: Otaluwon 4-17 4-0 1 A Maxwell 9-194427. 
D; D. Smith 6-14 1-1 13. Jockson 12-34 *4 30. 
Rebounds— Houston SO ITham 15), Dallas 61 
(Lever 10). Assist*— Houston 18 (Maxwell 8). 
Dallas 23 (Camabell 7). 


Golden State 29 36 27 18 7-117 

LA Capper* 10 39 33 17 10—139 

G: MullM 11-19 1-1 26, Webber 14-21 7-12 3 S, 
Surewell 11-279423. LA.: Wilkin* 11-23 2-224, 
Hamer 1*31 74 39-Reboend*— Golden Slate 
S3 (Qwons IS), Lae Angelas 68 (Spencer. Jock- 
son 13). Assist*— Golden State 28 (Mulltn 81. 
Las Angeles 35 (Jackson 17). 

Portland 2S 25 17 25-192 

Seattle 34 31 39 19-114 

P: C. Robinson 7-1 4 *5 18, Strickland 7-122-3 
16. J. Robinson 5-7 *4 16. S: Gill 11-14 0-1 23. 
Payton 6-12 6-730. Rebo un ds P o r tla n d 4* 1C 
Robinson 8). Seattle 59 (Owe 17). Assists— 
P or tl a nd 19 (C Robinson, Strickland. Kersey 
3), Seattle 27 (Payton. McMillan 8). 


13. Syracuse 

14. California 
17. UCLA 

Ik Indiana 
19. Odrtoma St. 
2a Texas 

21. Marquette 

22. Nebraska 

23. Minnesota 

24. Saint Louis 

25. Cincinnati 


21- 6 743 13 

22- 7 574 16 

214 559 15 

194 396 19 

234 384 23 

25-7 291 25 

224 2*5 19 

294 217 — 

29-11 292 20 

234 192-21 

224 198 — 


Chicago 34 27 8 7* 209 18* 

St. Louis 33 26 9 75 219 229 

Winnipeg 19 «4 8 4* 210 295 

Pacific MvMaa 

Calgary 34 3* 11 79 251 223 

VoKDUver 34 31 3 71 233 222 

San Jose 25 31 13 *3 TO 221 

Anaheim 26 40 5 57 193 219 

Las Angeles 22 36 TO 54 241 366 

Edmonton 19 41 -W- 49 215 258 

SUNDAY'S RESULTS 
Pittsburgh 1 1 1—8 

Hartford 8 9 3-3 

First Period: P-U. Somuetsson 5 (Fronds. 
Stevens). Second Period: P-Strako 28 (Fron- 
ds, Murphy): (pp). Third Period: H-COssdt 

11 ( Vfertoeek. P ranger ) (pp).P-Jagr 29 (Mur- 
phy, U . Somueteon) ; H-Verbeek33 (Sander- 
son). Shots an goal: P (on Reese 1 9*6 -21 H 
(on Wregget) 114-10-29. 

Vancouver • 1 1—2 

atom 3 0 3-4 

First Period: C-Roenlck 27 (Goulet, Mur- 
phy); C-Matteou 15(B. Sutter. Russell). Second 
Period: V-Odlkki* (Craven, Bure). Third Pe- 
riod; C-Goulet 16 (Murphy, ReenJdd; C-PouUh 

12 (Ruuna, RoenkJO; (pp). V-Bure 4* (Court- 
nail. (Jnden) ; (op). C-Rowdck 39 (Goulet. Mur- 
phy); (enl. Shuts on goal: V (an OH tour) NK6- 
5-21. C Ion WHtmors) 104-5-19. 

Dotes 9 • 9—4 

New Jener l l 2-4 

First Period: NJ.-Chor*ke 1* (Ntedar- 

maysr). Second Period: NJ^Orhrer I (Gue- 
rin. Stevens). Third Period: NJ.- Fetisov i 
(Lem leu*, Semak).- NJ^Rkhor 27 (Le- 
nt lev*). Shota m god: D (on Brodevr) 11-9- 
8-28. NJ. (on WakaUik) 9-144—32. 

Ottawa 0 9 1—1 

Anaheim 3 i 1—6 


7* 209 tB* 
75 219 228 
4* 210 295 


31 3 71 233 222 

31 13 *3 196 223 

40 5 57 193 219 


22 34 ID 5* 241 36* 
19 41 49 215 258 


NHL Standings 


The AP Top 25 


EASTERN CONFERENCE 
Atlantic Division 

W L T PtS GF GA 


Trams In the (tea! collage basketball poU, 

N-Y, Rangers 

<1 

20 

* 

92 248 191 

wtlbHrst place votes In persntkeieA record* 

New Jersey 

39 

20 

10 

88 349 182 

through March 13. total paints based on 25 

Washington 

31 

30 

■ 

TO 271 213 

point* taro ttrst-ptace vote through one point 

Philadelphia 

31 

32 

7 

69 250 262 

tar a UlMta vote, and previous raitalng: 

Florida 

28 

29 

10 

66 187 188 


Recant 

Pts 

Pvs 

N.Y. islander* 

2B 

33 

8 

64 236 224 

1. North Cantata »7) 

27-6 

1576 

4 

Tampa Bay 

25 

36 

9 

59 187 210 

Z Arkansas (16) 

25-3 

1546 

1 

northeast Division 


Z Purdue (11) 

36-4 

1/493 

6 

Boston 

36 

21 

12 

84 234 194 

A Connecticut 

27-4 

1500 

2 

Montreal 

35 

22 

12 

82 Zl* 195 

S. Missouri 

253 

14B 

3 

Pittsburgh 

35 

22 

72 

82 250 ZI9 

6. Duke 

235 

1352 

5 

Buffalo 

36 

26 

8 

•0 235 in 

7. Kentucky 

26* 

1336 

10 

Quebec 

27 

34 

7 

61 221 232 

Z Massachusetts (I) 

27* 

1329 

9 

Hartford 

23 

39 

8 

54 190 233 

9. Arizona 

25-5 

1595 

7 

Ottawa 

10 

52 

8 

38 16* 331 

ia LoutsvIMe 

26-5 

7JD9 

M 

WESTERN CONFERENCE 

1L Michigan 

21-7 

996 

0 

Central Division 


1Z Temple 

22-7 

840 

12 

Toronto 

38 

21 

11 

87 233 197 

11 Kansas 

25-7 

777 

11 

Detroit 

40 

23 

5 

85 297 230 

14. Florida 

25-7 

7» 

17 

Dallas 

3S 

25 

10 

N) 236 219 


First Period: A-Lonev 13 (Lebeou. Sacco) ; 
(PP). A-€wen • (Cambodti; A-Hfff * 
1 5 m ine y, Corkum). Second Period: A-Valk 
13 (Yoke, Hill). Third Period: A-Carkum 23 
(Dourlsl;0-v>ol2 (Dawdav.Ma Kelts), shots 
an goal: O (an sntolenlcov) 64-13— 2& A (an 
aldington. La Forest) 8-64—23. 

Tampa Bay 3 9 3 9-4 

Philadelphia 2 0 3 0-5 

First Period: P - O ci u nu k 35 (RecdU, Fe- 
dvk); P-RenbergSI (Brtmr Amour, Rocdil); 
(PP). T-Cott 18 (Bradley, DlMotol; (pp). T- 
Cmghtan 8 (Bradley, Chambers); (pp). T- 
Bergkmd* (Bureau. Tucker), fhhd Period: P- 
Rodne 7 (Renbera. Zeffler); P-HlusWco 1 
(Lamb Rodne); T-Bradtov 21 (Reekie); T- 
Bradley 22 (Oxonber v (kifrem); lP-Ltadros 
39 (Galley. BrbKTAmour). Shots on goal: T (on 
Roussel) 154-14.2-37. P (on Pupea) 944-1-71. 


San Diego 10. Chicago Cubs les) 7 

Colorado 11 Gaflfornla 5 

San Fnmdsco (ss) 8. Milwaukee (ss) 7 

Oakland (si) A Seattle 3 

Chicago CUbs (sal 4. Ooklond (ss) 1 



World Cup 


Major League Scores 


PRE-SEASON EXHIBITION GAMES 
SondorT Resalts 
Kansas City 5. Ond n noH (ss) 1 
Philadelphia 9. Baltimore 7 
Texas (ss) 7, Chicago White Sex 5 
Detroit 9, Cleveland (ss) 5 
Boston 7, Minnesota 2 
Florida (ss) Z Atlanta 1 
Cincinnati (ss) 3, Florida (ss) 2 
Los Angeles A Montreal 7 
St. Loafs A Pittsburgh 0 
Now York Yankees 12. Toronto 4 
New York Mets B. Houston 4 
Cleveland (ss) X Texas (ss) 3 
San Francisco (ss) 5. Milwaukee 2 


MEN'S SUPER-GIANT SLALOM 
Results Sunday from Whistler, British Co- 
lombia: l. Tommy Man, Untied States, l m In- 
ute, 31.22 seconds; Z More GlrardeilL Luxem- 
bourg, 1:3153; X Werner P er ot honor. Italy, 
1:3Z05; 4. Lam Kite. Norway, 1:3225; 5, (He) 
Cary Mullen. Canada, and Kietfl Andre Ao- 
modt. Norway. 1-J2JQ; 7. Kyle Rasmussen. 
United States. 1 :32J8; A (tie) Guenther Modar. 
Austria and Jtm Elnar Thorsen, Norway. 
1:3245; ML Alls SkoordaJ, Norway, 1:3242. 

Soper-Giant Skdom standage: 1. Gircr- 
dellL 249 points; l Moe, 203; 3. Moder, 190; 4, 
Thorsen. 188; StStaordaL 16*; «, Aomoat,lS7; 
7. Hannas TrinM, Austria, 145; 8. Markus Was- 
meler. Germany. 141 ; 9. Werner Perafhoner, 
Italy. 140; H Annin Aalnger, Austria, 134. 

OveraH standings: 1, Aamodt. 1.218; Z Glror- 
dew, *45; X Ataerto TambaitahMM; 4. Matter, 
789; & Skoorthit,*05; 6.TrinhW01; 7. Moe, SO; L 
Kha 547; 9, Thorsen. 509: ia Mullai. 487. 


HONDA CLASSIC- 

Lo iMllims CT m otisr Sunday* Itnalr uu nd o f^ 
the dire U mlmen taarn o mu t oa the 4J6**i, 
yard f*J69meferl, par-n Weston Mils Gbtf*. 
and Country dob course ta Fact Lo « de r d id s.9fc 
Florida; ■ *5 

Nick Price, Zimbabwe 7947-7X46—06^^- 
Craig Parry. Australia ' 68-33^947-^7^.^, _ ; 
Braudel Chambtee, UX *7-68-72-71— 278T* 

John Daly. United States 69-70-73 60 3 8 8 *5. 
Bernhard Longer. Germany «7-72-7348-r280% 
Curtis Strange. United Slates 71-67-7970-488^ 
Davis Lave. United States 6941-79-71-289%, 
David Edwards. Ui. 797249-71—292% 
Sandy Lyle, England 71-74-7946-283% 

Tam Kite, Untied States 71-72-7147-281% 


ITALIAN FIRST DIVISION 
Napoli a Piacenza 0 

SPANISH FIRST DIVISION 
Zaragoza 2, Oviedo 1 


HOCKEY . % 

Nut tonal Hockey Laogea -% 

NHL— Suspended Mike Hudson, N.Y.Rmg% 
ers farwmtL for l gama tar htotvsHckliN hict-% 
dent against Kiel! Samudtaoon, Plttaburghdg-% 
teweman, an March IX - . % 

CHICAGO— Traded Front tee* Kucgra.de-% 
tanseman, and Jocelyn LemJeux, rtoiW wfmj.% 
to Hartford tor Gary Suter.defmeman; Ran-% 
dy Cunneywarttk left wing; and undtsdoml** 
drafl choice. Traded Trey Murray, center, to % 
Ottavta tor future constaerattans. - % 
HARTFORD— Assigned Frank Ptefrab - ' t 
aelagaalle. and laorChtalrev and Mike Tant-% 
lok, centers, la SprlngHeid. ahl % 

PiTTSBU RGH— Recoiled Larry DePotma.% 
left vrtno, (ram Cleveland. IHL . % 


DENNIS THE MENAGE 


PEANUTS 


CALVIN AND HOBBES 



To our readers m 


It's never been easier 
to subscribe and sawe 
- [ust caD our 
Frankfurt office 

toi-fme 0130-828585 
or toe 069- 17541 3. 
From Austria 
cdui bH-foce 06608155 
<rfascQ6Q69 175*13. 































SPORTS 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, MARCH 15, 1994- 


Page 21 


rom ^ o rid£^''iVZT Fills 
m } FMWith 

AU the Rest 


, -r«L r 
* * _ , ; 

- - S 


, ' rr,D '% . 


For NCAA Top Seeds, Method Prevails Amid Upset Madness 


^ 

‘ Hr • 

*.o 

"She . 


The Associated Press 


. ' 1-, ’ 

• -J 

^ NEW YORK — There were 32 
u , consolation prize winners after the 
' r :- h'.r^’NCAA picked its 64 teams. 

.. nt :' TTk NIT tournament filled its 
\ ‘ v... field Sunday night with schools 
. '-hr. that were left out of the more-pres- 

>J: = "i'lii -tigkNis NCAA. Included are 10 
teams with at least 20 victories and 


Cfiv Brihf* D 

• \ Depo rt one team — Georgia Tech — with 

■ ' i .vf "■ .. T. ‘ two victories over North Carolina. 


c.v. 

Sfc -u j n 

cii: **■__- 
u~c^\ 
ssc . 


■ First-round games will be 

•' ihriy^ednesday and Thursday. 

.''-’-±1 Murray State has the best record 
■i : v r ,..'m the field at 23-5. Others with 
-• i -^impressive records include Bradlev 
(21-7), Brigham Young (21-9), 
\ ' lii. Canisos 122-6), Davidson (22-7), 
- :,. n Gonzaga (21-7), Old Dominion 

: -'> ^(20-9). Siena (21-7) and Xavier, 
-7^ Ohio (20-7). 

Vanderbilt (16-11) will travel to 
play Oklahoma (15-12). 

Georgia Tech, 7-9 in conference 
l:1 " : ctplay and 16-12 overall but left out 
- - S >as the NCAA committee chose 
' i ispnly five teams from the Atlantic 
Coast Conference, must travel to 
- 1 ifc cjAlbany, New York, to play Siena. 

- - ( ^ “They have four starters that av- 

?' rf - \{ - k , ‘‘"“rage in double figures and they 
;i;c ~®'“*ve a great guard in Doremus 
j&nennan,” coach Bobby Cre- 


: Reynold* 


f.iu.: y . 
r . 


N2 >F: 


* II . jennenna 

ui Honda Golf ninssaid - 


■ - • 'O 


f ; 

v.b-c_ • _ 
nc::. 

. . • 

->1 iT'. .• ■ 

i:y- 


it 


The other first round games are: 
' ''Murray State at Bradley: Tulane 
**17-10) at Evansville; DePaul (16- 
11) at Northwestern (14-13); Mj- 
” : -j' 'ami, Ohio (19-10) at Xavier, Ohio; 
"-i Pi-North Carolina Charlotte (16-12) 
■'’Vat Duquesne (16-12); Texas A&M 
'^(19-10) at New Orleans (19-9); 
-"jr^southem Cal (16-11) at Fresno 
- T —-State (19-10); Davidson at West 
-Virginia (16-11); Southern Missis- 
- sippi (15-14) at Gemson (16-15); 
■ r ( Manhattan (19-10) at Old Domin- 
ion (20-9); Caniaus at Vfflanova 
(15-12); Mississippi State (18-10) 
. at Kansas State (17-12); Arizona 
■ " -State (15-12) at Brigham Young; 
~ and Gonzaga at Stanford (17-IOf 


Th£ Associated Press 

KANSAS CITY, Missouri — 
J ne National Collegiate Athletic 
Association tournament field was 
jumbled but not jarTed after a wild 
weekend of upsets, confirming 
what seemed obvious: There are 
more than four teams in college 
basketball that deserve a top seed. 

North Carolina, the defending 
champion, Purdue, Arkansas ana 
Jusspuri received the top seeds on 
Sunday after a week in which 1 8 of 
the Top 35 teams lost at least once. 

Six of the top eight teams in The 
Associated Press poll lost over the 
weekend, causing the NCAA selec- 
tion committee to do some last- 
minute shifting that created no 
shocks but likely did flip some 
No. 1 and No. 2 seeds. 

As an indication of the depth of 
the 64-team field, the No. 2 seeds 
— Connecticut, Duke, Arizona and 
Massachusetts — all had shots at 
being No. 1 seeds entering the 
weekend. 

“I’ve never seen a day quite like 
yesterday," said Tom Butlers, 
chairman of the NCAA selection 
committee and athletic director at 
Duke. “It was one of the most in- 
teresting days I’ve experienced, 
where so many great teams fen." 

“Obviously, we had done a lot of 
work up to that time," he added. 
“We had to go back to the drawing 
table last night and take a look to 
see what change was necessary. " 

Said the Kansas athletic director, 
Bob Frederick, who wifi soon suc- 
ceed Butters as committee chair- 
man: “This was probably the most 
difficult tournament we’ve had in 
several years. Tlie parity, the in- 
credible upsets Saturday, made it 
very difficult." 

Bay begins Thursday and Fri- 
day at right regional sites and con- 
cludes with the championship 
game in Charlotte, North Carolina, 
on Monday, April 4. 

Neath Carolina, which defeated 
Virginia in the Atlantic Coast Con- 
ference tournament final Sunday, 
was made the No. 1 seed in the East 
Regional. Purdue, the Big Ten 
champion, got the top seed in the 
Southeast Regional. 

Arkansas, which was ranked 
No. 1 in the AP poll going into the 


1994 NCAA Men’s Basketball Tournament 


First Round 
Thursday and Friday 

I.ArtcmwBM) 

15. NX, AST 06-131 


Second Round 
Saturday and 
Sunday 


Regwnais 


Swrefinals 


National 

Championship 


Semifinals 


Regionah. 


Second Round 
Saturday and 
Sunday 


XBBnoto (17-1(8 


i, Georgrtoum (10-Til 


5. UCLA ftl-fll 


IXTUta (21-71 


OKLAHOMA CITY 
Friday, March 18 


4. OMahoma SL B3-B) 


IX Mere Meidco SL (23-71 

Ejaaflm 

11. W- Kentucky CQ-101 
Mfldflgin [21-71 
14. Peppertfae (19-101 
7, St LouU B3-61 
10. Maretowd (16-11) 


THOMPSON-BOUNG ARENA 
KNOXVILLE, TENN. 
March 24 and 26 


WICHITA, KAN. 
Thursday, March 17 


2. Mfadiunmta [27-4] 
1&. SWRaanSL (25-4) 



1. IBaaourl (25-31 


IX NawH 7-121 


& Ondnnari (22-61 


9. Wlaconatn (17-101 


CHARLOTTE (N.C.) 
COLISEUM 
April 2 


X CaBotnla (22-71 


IX WM-Grewi Bay 06-61 

4. Swacosa (21-61 

IX HawaO nB-141 


OGDEN, UTAH 
Thurettay; March 17 


B-MnnawtaCO-tl) 


T1. Southern OCnola Q*G\ I 
1 LmtiavUaBS-SI 
14. Botan St (17-121 I 
7. VtraWa 07-121 _ 


LOS ANGELHS SPORTS ARENA 
March 24 and 26 


IX Near Mexico (23-71 

X Altana (2&a 

IX Lovola (Md. 1(17-1 21 


SACRAMENTO, CALIF. 
Friday March 18 


CMAUCim 


CHARLOTTE 
[N.C.) 
COL1SEUU 
Apnl a 


LAWKJVER. MD. 
Friday; March 18 


First Round 
Thursday and Friday 

1. North CwOna (27-61 

1XLBMrtvn8-Hl 

B. Washington St (20-1 01 
9. Boaton CoBago (20-1 0) 
5. Indian (16-81 


12.0hioB5-71 


MIAMI ARENA 
March 25 and 27 


IX Drmel (2S-41 


XHe ^HkapM) . 


1 Tl. Pflrmavtvanla (24-21 

JLHoddxBSffl 


UNION DALE, NY 
ThuMa^ March 17 


T.UABB2-71 


CHARLOTTE (N£.) 
COUSEUM 
April 2 


1 10. Geo. Washington (17-tH 

X Connecticut [27-4) 

1 15. RMar (21-61 

1.Punta[264) 


LEXINGTON, KY 
Thursday March 17 


| IX Cental Florida (21-8) 

X Providence £20-61 
1 9. Alabama (19-9) 

X Wfato Forest (20-111 
( IX Cot ol Charleston [24-3 1 
4. Kansas (25-71 


REUNION ARENA 
DALLAS 
March 25 and 27 


srt PETERSBURG, FLA. 
Friday. March IB 


I IX Tbnn.-ChaHanoofla (23- 61 1 
XllanniaUa <22-61 I 

1 11. SW. LouMana g2-7) 

3. Kentucky 0661 

flXItonsss^Stfig-TI) 

7. fchigan SL flO-tl) 

\ to. Selon Has (17-12) 

XPujMMjl 


Tynas fo be announced. 


| IXTbrnsSoctham [1B-V M 


weekend, lost to Kentucky in the 
Southeastern Conference semifi- 
nals, but srih managed to get the 
top seed in the Midwest 
Arkansas lost the top spot in the 
final AP poll. (See Scoreboard) 
Missouri, defeated by Nebraska 
in the Big Eight tournament, was 
placed No. 1 in the West 
The field was so loaded with 
“parity" that some traditional pow- 
erhouse conferences failed to get as 
many bids as usual. 

The Big Ten tied a tournament 
record with seven teams. But the 
Big Eight, which got six bids each 
of the last two years, got only four, 
as did the Southeastern Confer- 
ence. The ACC has rally five. 


Are these leagues slipping? 

“I don’t think that’s as obvious 
as it sounds,” Butters said. “What 
you need to understand is the 
wealth has spread. When we talk 
about parity, we’re serious.” 

Butters said that the number of 

r ts caused some scrambling 
had the committee working 
until 11 P.M. Saturday. 

“Because so many fell, we didn’t 
do a lot of changes,” Butters said. 
“Tournaments have a way in many 
respects of helping teams more 
than they hurt teams. You can only 
lose one game, you have the oppor- 
tunity to win three." 

“I won’t say it didn’t cause any 



EH KounoalHic Aaocuml Freu 

en route to the Friars’ Big East title. 




On a Roll, Upbeat Oipp ers Stop Warriors in OT 


■4 


i •_ 



. The Associated Press 

The Los Angdes dippers, the team traditico- 
aUyhome to the most discontented players m the 
Nati onal Basketball Association, have been hav- 
ing fun «mcg Hann y Manning left tOWfl. 

■ • ftid they are winning a bit, too. 

A 120-117 overtime victory agai nst Golden 

NBA HIGHLIGHTS 

| State on Sunday gave Los Angeles its first 
I Lhree-game winning streak of the season and its 
I fourth victory in seven games since Dominique 
ft Wflldns arrived. M . . 

1 . The dippere had played the Wamra^ three 
tones this season, losing by 46, 14 and 5. Tms 
time, however, they opened a 6-point lead m 
overtime and held on. , ... . 

Los Angeles still has a shot at the eighth and 


final playoff spot in the Western Conference, 
but it will have to make up seven games on the 
Denver Nuggets with just 22 left. 

“When you look at the way we are playing 
right now, 1 fed good about our position down 
the stretch,” said Mark Jackson, who had his 
first triple-double of the season with 11 points, 
17 assists and 13 rebounds. 

W illrins, acquired along with a conditional 
first-round pick for Manning cm Feb. 24, added 
24 points. 

Sub 100, Magic 93: In Orlando, Florida, 
Charles Barkley had his best perfonnance since 
returning from a knee injury that sidelined him 
for 17 games, getting 30 points and 20 rebounds 
in 36 minutes. 

“It’s been a struggle for me to come back,” he 
said. Tm almost 100 percent, and Pm glad I'm 

getting better.” 


Barkley and Johnson scored 19 of Phoenix’s 
21 points in the fourth quarter and the Suns 
withstood a 39-point, 14-rebound perfonnance 
by ShaquiBe O'Neal. 

SuperSonks 114, TraH Blazers 102: In Seat- 
tle, the Sonics broke the game open in the third 
quarter and coasted to their eighth victory in 
nine games. 

The Sonics won their seventh straight home 
pa me and improved their Seattle Coliseum re- 
cord to 25-3 and overall mark to 45-15, both the 
best in the NBA. 

76ers 114, BuDefc 97: In Land over, Mary- 
land, the 76ers won lor the first time since Feb. 
7, behind Clarence Weatherspoon’s 28 points 
on ll-for-16 shooting and 12 rebounds. 

Tbe 15-game loang streak was Philadelphia’s 
longest since the 1972-73 season, Mien the Sixers 
posted the worst record in NBA history — 9-73. 


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changes, but it did not cause a great 
deal,” be added. 

Connecticut, the regular- season 
Big East champion, lost a chance at 
a top seed when it was defeated 
Saturday by Providence in the con- 
ference tournament semifinal. 
Connecticut ended as the Na 2 
seed in the East 

“I think Connecticut would have 
been&No. 1 seed and not Purdue if 
they had won their tournament,” 
said Kansas’s coach, Roy Wflliams. 

Duke also missed out on any 
chance at a No. 1 spot when it was 
upset by Virginia on Saturday in 
the ACC tournament. The Blue 
Devils are the No. 2 seed in the 
Southeast. 


Said Kentucky's coach, Rick Pi- 
ano: “The good news is we’re in the 
Southeast region, the bad news is 
we're in a region with a lot of tough 
basketball teams. It's a very tough 
region but we’re gang to Sl Peters- 
burg and it could be worse.” 

Arizona is the second seed in the 
West and Massachusetts got the 
Na 2 seed in the Midwest 

The Big Ten placed seven teams 
in the field. Purdue was joined by 
Michigan, Indiana, Illinois, Wis- 
consin, Michigan State and Minne- 
sota. 

The Big East was a surprise by 
getting six teams into the tourna- 
ment, with Connecticut, Syracuse, 
Seton Hall, Providence, George- 


Thc W*shiB£Ttm Pens 

town and Boston College getting 
bids. 

On the other hand, the ACC sur- 
prisingly landed only five teams, 
with Georgia Tech shut oul Tech 
finish ed 16-12 but defeated North 
Carolina twice. Also missing out 
were Brigham Young (21-9) and 
Xavier (20-7). 

“We’re very disappointed that 
we didn’t get in,” said Georgia 
Tech’s coach, Bobby Creminx “I 
really thought we had enough qual- 
ity wins to get in there.” 

The best record among teams 
that did not make the field be- 
longed to Murray State, which was 
23-5, including losses to tourna- 


ment teams Arkansas and Saint 
Louis. 

The biggest shocker in the field 
was the College of Charleston 
(South Carolina), which finished 
24-3. This is only its third season of 
Division I basketball. 

“The Iasi few years. I don't re- 
member the NCAA taking the little 
guy for an at-large bid,” said Col- 
lege of Charleston’s coach, John 
Kxesse “It was combination of a 
tremendous record, nice noncon- 
ference wins and the longest win 
streak in the country.” 

“We went from being the talk of 
the town to the talk of the nation,” 
he added. 

North Carolina plays its first 
game against Liberty College, the 
champion of the Big South confer- 
ence. Purdue takes cm the Trans- 
America champion Central Florida. 

Missouri will play Navy, the Pa- 
triot League champion. And Ar- 
kansas will take on North Carolina 
A&T, which beat South Carolina 
State, 87-70, Sunday night to win 
the Mid-Eastern Athletic Confer- 
ence championship. 

The No. 1 seed that travels far- 
thest is Missouri, which lost only to 
Arkansas and Notre Dame in the 
regular season and hoped to be 
Na 1 seed in the Midwest 

“Obviously, someone had to be 
sent west” Butters said. “It hap- 
pens every year. Someone has to be 
displaced, and although I’m disap- 
pointed for any team that has to 
start off far away from their own 
fans, it nonetheless has been a fac- 
tor, and I assure you it’s going to be 
a factor in the future." 

In addition to College of 
Charleston, others malting their 
first appearance, aD as conference 
champions, include liberty of the 
Big South, Loyola, Maryland of the 
Metro Atlantic, Southwest Texas 
State of the Southland Conference 
and Central Florida of the Trans 
America. 

Georgetown’s coach, John 
Thompson, summed up the strate- 
gy of bis team, which opens against 
Illinois in the MidwesL 

“We know what we have to da” 
he said. “Our plan is just to lace up 
the sneakers and go out and play.” 


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Page 22 


INTERNATIONAL HERALD TRIBUNE, TUESDAY, MARCH 15, 1994 


ART BUCHWALD 


It’s Watergate, Stupid! 


Britain on Wheels: An Anglophile’s Tale 


PEOPLE 


By Susan Keselenko Coll 


W ASHINGTON — The rea- 
son the White House is in 


#1 



such trouble over Whitewater is 
that no one working there has ever 
beard of Watergate. 

I discovered this when 1 was sit- 
ting in a Laundromat with an ad- 
ministrative aide from President 
Clinton's office. He bad just been 
subpoenaed to 
appear in front 
of the special 
prosecutor for 
Whitewater to 
answer ques- 
tions about ap- 
parent White 
House interfer- 
ence in the case. 

"I don't un- 
derstand it," he 
said. “Why are Budmakl 
they upset because we wanted to 
knew what was going on in an 
insignificant S&L land develop- 
ment? If the president is involved, 
it's our job to put out Lhe fire." 

“Perhaps the media was afraid of 
another Watergate," T suggested. 

"What is a Watergate?" he 
asked. 

“It was a major scandal involv- 
ing President Nixon and his aides 
— many of whom went to jail." 

“That was before my time,” he 
said. 

"That's impossible. Everyone in 
the country remembers Watergate. 
Don't the names Haldeman. Er- 
licbman. Colson and Liddy mean 
anything to you?" 


He shook his head. "They don't 
ring a belL I was playing in the 
sandbox back then.’ 4 


L ONDON — If the way Firdaus 
Kanga whizzes confidently, some 
might say recklessly, through West Hamp- 
stead traffic in his motorized wheelchair is 
any indication, he has come a long way. 

Born in Bombay with osteogenesis im- 
perfecta, a brittle-bone condition that has 
left his body oddly skewed and just shy of 
4 feet tall ( 120 centimeters!, this 34-year- 
old writer — a gay. disabled Indian — is 
one of the literaiy world's most startling 
success stories. 


Dred Scott Decision: 
A Find in Connecticut 


New York Times Service 

NEW YORK — Edward Turner, 
an assistant public affairs officer 
for the V. S. Supreme Court and 
part-time antiques dealer, made 
some spectacular finds in the 
manuscripts collection of a New 
Haven, Connecticut, dealer. 

Among the documents were two 
original copies of the infamous Dred 
Soon derision of 1857, which found 
that blade slaves lacked the rights of 
citizens, and a first-edition copy of 
the Judiciary Act of 1789, which 
established the federal coon system. 
The documents were purchased by 
the Supreme Court Historical Soci- 
ety for a total of S3.900. and will be 
displayed periodically at the court. 


1 could see he was serious. 

“You know who President Nix- 
on was. don’t you?" 

“Yah. We learned about him in 
American history.” 

“Well, his people broke into the 
Democratic Party offices in the 
Watergate building and were 
caught. It wasn’t the crime itself 
but the cover-up that caused such a 
furor. All the forces of the White 
House were put into play to protect 
the president It was a faflea effort 
however, because in the end Nixon 
lost everything.” 

“What has Watergate got to do 
with me?” 

“Nothing, except the perception 
is that this White House staff is 
doing the same thing . There are 
reports that you are all shredding 
papers, hindering the investigation 
and hiding evidence. You people 
have teamed nothing from Water- 
gate." 

“How could we? We were too 
young to know that the Justice De- 
partment didn't belong to us.” 

D 

“listen, Haldeman and Erlich- 
man went to jail so that future 
White House staff members would 
know right from wrong. Don't you 
realize that interfering in the coun- 
try's legal system can give a presi- 
dent heartburn?" 

“But if we do have something to 
hide it doesn’t make sense to let it 
leak out to the press," he sai<L 
“Whitewater could affect Clinton's 
re-election, and if the staff doesn’t 
sweep it under the rug — who 
will?" 

I told him. “That’s what the Wa- 
tergate people saidL They refused to 
acknowledge that they bad lot 
their moral compass. Ail I'm trying 
to do is save you from going to a 


From a family of impassioned Anglo- 
iiles, Kan 22 inherited a love of all things 


philes, Kanga inherited a love of all things 
British, and it comes as no surprise to 
readers of either his critically acclaimed 
first novel. “T lying to Grow," or his subse- 
quent travelogue, "Heaven on Wheels,” 
that he would eventually find a way to 
make England his home. 

Those unfamiliar with Kanga’s work 
will have a second chance to tune in: He 
has just finished writing the screenplay of 
his novel for the BBC and will make his 
acting debut when production begins this 
summer as the Pars! boy stuck inside a 



body so fragile that his ribs are liable to 
crack from a spun of hiccups. 


.viir 


'»* TC- \ v 


v \ 

. . 

> '<*£, l. 


minimum- security prison like Al- 
len wood where they have nice ten- 
nis courts." 

“O. K, so you've warned me, but 
that doesn't mean I believe every 
word of what you say." 

“What don’t you believe?" 

“That part about an American 
president being driven from office 
over a third-rate burglary at the 
Watergate — I don’t know any- 
body in the White House who 
would be that stupid.” 


crack from a spun of hiccups. 

Over lunch in a neighborhood cafd, 
where Kanga is propped up to reach the 
table, he explains that these days, he is 
feeling physically strong. “I stopped 
breaking my bones when I was about 12 or 
13," he says. “In that way. 1 suppose I was 
quite lucky. I had one of those conditions 
which got better as I grew, and not worse, 
which is what most conditions do.” 

With sparkling brown eves and thick 
black hair, Kanga has an infectious charm, 
attributable in no small part to the zest for 
life that punctuates his every sentence with 
a melodic exclamation. Grocery shopping is 
as exotic to him as the opera, and he is so 
eager to interview the interviewer that one 
must struggle to keep the conversation on 
track. 

“I think I probably hod a tremeodous 
sense of an unlived life in India,” he says, 
describing a youth spent in the relative 
isolation of his supportive, if overprotec- 
tiye, family. .Although he took exams at a 
private school in Bombay, his education 
took place largely at home with the aid of a 
tutor. 

Until the recent acquisition of the motor- 
ized wbedchair, he had never experienced 
anything approaching independence. “I've 
never known that sense of bong alone.” he 
said. “To be in a bookshop on your own. 
It’s fantastic!” 

Less surprises than Kanga’s enthusiasm 
for his newfound freedom, however, has 
been the Indian response to such Anglo- 
philia. His second book, detailing his travels 
through the United Kingdom, glorified ev- 


*•< . ^ 4 ! 

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days. His conservative politics often disarm 
his more liberal-minded friends. 

Among other thing *, he says, be refuses 
to speak in slogans. In his play, for instance, 
he was asked to rewrite a scene in which a 
disabled person fantasizes about being 
able-bodied “I would be told, ’You can’t 
say that. You just can’t say that sort of 

tiring, because disabled people are very hap- 
py to be disabled.' And I would say. ’Show 
me one disabled person who hasn't fanw- 
s jrwf about being able-bodied Just one!' ” 

He has likewise been criticized for depict- 
ing gay cm 1 disabled people as capable of 
being mean-spirited * i Why can’t gay people 
be nasty to their lovers?" he cried *Tm 
writing about the human heart!" 

When he can force himself to resist the 
temptations of London, Kanga is at work 
on a second novel, about an Englishwoman 
who travels to tire subcontinent to meet the 
man with whom she has been correspond- 
ing. “Td much rather go out to supper with 
somebody new, or go to the theater," he 
conceded “Who wants to sit at home and 
write?" 

Still, he seems to find the discipline, and 
has just signed to write another travel book, 
about his return journeys in India, most of 
which he did not see previously because of 


the difficulty of trawl. 

Despite his ambivalence, Kanga still 
spends about two months a year in India 
writing his family. Now that be has become 
spoiled by the relative ease of getting 
around in England, with such amenities as 
the London taxi, big enough to accommo- 
date him in his wheelchair, be finds travel in 
India “hideously difficult” 

“I gp somewhere and the whole village 
turns out to look at me,” he says. “I suppose 
in a way I'm much easier about the whole 
thing , because I know my life is not there. 
I'm not trapped there anymore. So 1 think 
there’s lots of room for sympathy. But in a 
way I think what good is that? 1 had to go 
away before 1 could afford to feel ibaL” 

Still, Kanga admits that life is not all a 
bed of roses in England, and to some 
extent, the novelty has worn off. One glitch 
in the dream, for example, is that the sec- 
ond-story flat where he lives does not have 
an elevator, which puts him at the mercy of 
friends, taxi drivers and sometimes even the 
police, for a lift up and down. 

Has be considered moving, then? Well 
only on to the next fantasy, one so seductive 
be speaks it in a whisper France: He's 
study ing the lan guag e at home, immersing 
himself in French films and audiotapes. 
And green the strength of bis will, it should 
cone as no surprise if he comes motoring 
through the Channel soon, a zealous Fran- 


Blcoautar? PoUubne Lnl 

Firdaus Kanga, a success in England, has been criticized in his native India 


erything English from Margaret Thatcher 
to indoor shopping mall* to his editors at 
Bloomsbury, and managed to touch a raw 
nerve at borne. Though sales of “Heaven on 
Wheels" were brisk, the reviews were not 
always flattering. One newspaper accused 
him of being obsessed with toilets for the 
disabled, missing the point of his critique, 
he felt. 

“All you’re supposed to do if you're dis- 
abled in India is just be good and pious so 
inyoar next life you'll have a better body,” 
he says. 

He has been ridiculed, as well for writing 
about his homosexuality. “I think there was 
a terrible outrage about that,” he says, ex- 
plaining thru the general response in India 


ran along the lines of: “Can’t you at least be 
ashamed enough to keep it quiet?" 

In England, at any rate, they want to hear 
more. In addition to writing a play, “A 
Kind of Immigrant,” about a disabled man 
who discovers he is homosexual Kanga has 
also penned two television programs that 
aired on Channel 4. One program, entitled 
“Taboo," dealt with Indian attitudes to- 
ward disability, white the other focused on 
the difficulties of relationships among dis- 
abled gay 5. 

Lest one gel the impression that Kanga’s 
success has only to do with his particular 
niche as a triple minority, he is quick to 
point out that he tends to land on the wrong 
side of the politically correct fence these 


Griffith and Johnson: 

Together Again, Again? 

The on-again. off-again_marriage 
of the actress Metairie Griffith and 
the actor Don Johnson appears to 
be on again, just 24 hours after it 
was off again. Griffith. 36, had pen- 0 - 
limed for divorce from Johnson, 44, 
nearly five vears after tbey inanied 
each "other for the second time. But 
television and radio reports say thex« ; 
are together at their ranch in Aspen * 1 
Colorado, trying to reconcile their 
differences. They first married in 
1976 when both were struggling ac- 
tors but divorced less than two years 
later. They remarried in 1989. after 
both had become famous. 

□ 

Stars of ballet performed in Lon- 
don in a tribute to Rudolf Nureyer 
at a gala organized by a British 
AIDS charity. Darcey Bussed Irek 
Mukhamedov, Charles Jude, Zotan 
SofymosL E refyn Hart and Tetsnya 
Kmnakavra were among those who ; 
danced. Natalia Makarova per- 
formed in a comedy routine with, 
the M up dci characters Miss Piggy \ 
and KerrniL as Nureyev had done 
in 1977. Nureyev died in Paris on 
Jan. 6, 1993. al the age of 54. 

□ 

It’s taken a wliile — 34 years — 
but the British police think they 
know who stole Sophia Lorenzs 
jewels in I960. They said they had 
arrested and questioned 77-year- 
old Ray Jones, also known as “The 
Cat.” Jones, who is writing his 
memoirs, told several newspapos 
that he had turned himself in. The 
jewels, valued then at £185,000 
(S2S0.000 at current rates), were 
stolen from the film star's hotel 
room near Elsiree Studios outside i 
London, where she was filming . ; 
“The Millionairess” with PeterY .4* 
Sellers in I960. Jones told report-”- *, 
ers in 1992 that he had stolen the ? 
gems. There was no word from the ; 
police on why they had not arrested 
him then. 1 

□ 

The Indian government has j- 
promised Ravi Shankar cheap land 
for a music academy after be threat- 
ened to take the project to the Unit- - 
cd Stales. The school will keep 
Shankar’s recordings, instruments 
and memorabilia and will train stu- ’ 
dents in Indian classical music. 




■/?JI 


; i«L • 

: 

. - 

. . 

,i e- 1 '. 


Susan Keselenko Coll is a free-lance writ- 
er living in London. 


INTERNATIONAL 

CLASSIFIED 

Appears, on Pages IS & 21 


WEATHER 


CROSSWORD 


Europe 


Forecast tor Wednesday through Friday, as provided by Accu-Weafrier. 


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will close on a sunny and 
warmer no®. Snow wtl blan- 
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Thursday. Chicago to 
Kansas City will have dry. 
mfld weather talar this week. 


Europe 

High winds will sweep 
through the British Isles at 
midweek. Showers will 
accompany Iho strong, gusty 
winds. Snow and colder 
weather is possible over 
southern Scandinavia lata 
this week. Southern Europe 
wift have *y and mid weath- 
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cooler with a tew shows. 


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Belling through Seoul will 
have dry. cool weather later 
this week. Shan^al to Hong 
Kong win have cool weather 
Wednesday. Sunny, wanner 
weather Is expected toward 
tha end ol the week. Tokyo 
will have dry weaiher and 
some sunshine later this 
week. Snow and gusty wkids 
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50 1956 

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actress 

si Birthday-suit 
activity 

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dogs 

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57 Max or Buddy 
59 Till 

compartment 
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as Dermatologist's 
diagnosis 
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acronym 

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68 Feminist Millett 
BO Mikulski and 
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70 Once more 


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35 Harbour, 

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31 A dwarf 

33 Syracuse 
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34 Floral container 

35 Biblical suffix 
38 Moist 

41 Novelist Rand 

42 City bond, for 
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43 Secret lovefests 
45 Appearance at 

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© New York Times Edited by Will Short, 



Hi ’A ' - 


- 

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: - 

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Pud* by David J Kahn 


4a Suspect's 'out' 51 Kind ol therapy w Mane, e.g 
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, s your voice at a more ]>olite hour. All this is now possible with AESE 1 

'» » , .... ... v. . ... ... 

— — ' To use these services, dial the XRST Access Number of the country you re in and you 11 get all rite 

help you need. With these Access Numbers and your ART Calling Card, international calling has never been easier. 

If you don't have an AIKT Calling Card or you’d like more information on AU£T global services, fust call us using the 
convenient Access Numbers on your right. 


Armenia** 
A ustr i a * *■ 

Hdgium* 

Bulgaria 

Croatia*# 

Czech Rep 

Denmark* 

Finland* 

France 

Germany 

Greece* 

Ttangary* 

h-etuxTB 


0014-881-011 

m 10811 

018-872 

800-im 

000-117 

OOt‘-801-10 

0039-111 

009-11 

tv 

800-0011 

000-911 

109-11 

Z35-Z872 : 

wo-oni-iii 

430430 

0080-10288-0 

0019-991-1111 

EUROPE 

8*14 111 

022-90^011 

07H-1 1-00 IQ 

OO-IHOO-OOIO 

99-38-0011 

00-420-00101 

8001-0010 

9800-100-10 

19*-0011 

013041010 

00-800-1311 

ooA-aoo-oiin 
9*19-00 1 


COUNTRY 

Ireland 

Baly* 

lirtmanfaa 

Luxunhtiurg 

Malta* 


Wahcrirgdr 

Norway* 

Wad** 4 ’ 

Portugal* 


Slovakia 


Sweden* 

Swlueriiud* 

UJL 


Bahrain 

Cypo/s* 

larnd 

Kuwait 

L eb anon (Belmt) 

feadl Aratto 

Turkey* 


AffpCDtlOM* 
Bellag* ' 
BoBvte* 
Bwall 
Chfle 


BY ACCESS NUMBER 

1-800-550-000 

172-1011 

Beta* 155 -00-11 

<* 8*196 

wg o-nocKnn 

0900-890-110 

19*4)011 

°kfc* 064)22-91 II 

800-190-11 

^ OaOlO-teO-Qll 1 

; 05017-1-288 

Ql-BOO-4288 

*aacawj 1595042 

0042000101 

900-99-00-11 

020-795-611 

od* 1554)0-11 

05004KMW11 

MIDDLE EAST 

800-001 

PHTHH/oIo . 

177-100-2727 

800-288 

JBetrat) 426-801 

ta 1-800-100 

00-800-12277 ' 

AMERICAS 

r 001-800-20P-lliT 

555 

0-800-1111 

000-8010 

00*0312- 


COUNTRY 
Colombia 
Costa Rka*» 
Ecuador 
El Sa|vadoi*ta 
■ Guatemala* 
Guyana*** 
Honduns*a 
MexkxuAA 


NtearagmfManffigrei) 

Panamaa 

Peru* 

Suriname 

Untgua>* 

Venezuela** 


ACCESS NUMBER 

980-11-0010 

114 

119 

190 

190 ' 

165 

123 

95-800-162-4240 


<.r . '■ 



174 

109 

W- 

156 

(XHM10 

80011-120 


hi.. 

V** 1 - IP- 


ATS T 


© \9H /O SET 


■ 4U1 'ZdlbQfl > 4nl n( wl JUlLHu In jU i • .uurk-s JOtf World Coat M •Mi’ 
pmr.„inn m.iamn lulkvteivwiinn.-iHin lut .nM-iAUT lonDUH; 
Irt.-f -Itl. - |lli n- ■■■■-ff ■(■.ink .1 h,< MT 14,1 h.iff.. 

l/flkrWVrHCOnBrtt-Vn^vilftr.jjlVt I 

4|CTl3MNrcct*'-'n4.c-na>'3iU<h.-ln«T,j|lih-.<>inHii.-bSul<te>M- 
TiWli- plHi|K--ivn"«v*kl — * «T« i»> « p/*"’': >™l tar Jwil mne 

“IWte, |4»m->mpHn-.fci»-*.4..«i.«|4»m-.mlha.Mh4lr IX4ulur«M»||| 

tenJl nuF* Wji-jw teu* 


■ Bermuda* ] 

■ British VI. i 

Cabman Islands ] 

. Grenada* 1 

Haiti* Op] 

Jamaica" £ 

tiieih. Antfl O01- 

■ Sl Klgs^-'N’evis ] 

AFRICA 

Egypt* (Cairoj 

G«bon- 

r. m wFIn- 

Kenya* 

Liberia 

Malawi** ' 


CARIBBEAN 

1-800872-2881 

1-800872-2881 

1-800872-2881 . 
«ds 1-800872-2881 

1 -800872-2881 

001-800972-2883 
~~ 0800872-2881 .' 

1 001-800872-2881 

ta 1 -800-^72-288? 






7n», 


5100200 

OOai-OOl 1 

00U1' 

080010 

797-797 

101-1992 


***"'■« K-JwiWit Iruinn.-n nim 

•*04stt i 3ilmt;>adt 

ik^n iiii pi-Wtl-fJl,' 'Z \' l,,ni,,U,,U ' ■" ***** 
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